Further strengthening its leadership position in the market, ClearTax, tax and GST compliance solutions provider, has now entered into a partnership with IDS Next, global hospitality technology platform providers. The partnership will benefit over 200 hotel chains in India by extending ClearTax integrated e-Invoicing solution and soon to be integrated GST compliance solution.
In India, Electronic Invoicing is mandatory from January 1, 2021 for all enterprises having a turnover of Rs. 100 crores or more. E-invoicing will be made applicable to all businesses beginning April 1, 2021. E-invoicing not only creates a digital trail of an invoice, it also helps populate GST returns and can simplify compliance for a large number of taxpayers. ClearTax’s tailored e-Invoicing solutions will automate both of these business functions for IDS Next’s clientele.
Speaking on the development, Archit Gupta, Founder and CEO, ClearTax, said, “Our mission is to help businesses comply with e-invoicing requirements quickly and smoothly. With our partnership with IDS, India’s hotels will not only be able to become e-invoicing compliant but also very soon they will be able to do their full-scale GST compliance via ClearTax.”
Manoj Mohanty, Sr. Vice President Sales (South Asia & S.E Asia), IDS Next, said, “The concept of e-Invoicing as it is known in India, has already been implemented in many of our client locations globally. We are delighted to have ClearTax lead this integrated initiative in India, which is helping our hotel customers with reduced data entry errors, real time tracking and a plethora of related benefits.”
Together, ClearTax and IDS Next have launched an integrated Electronic Invoicing product, enabling enterprises to seamlessly get E-Invoicing ready.
Via ClearTax, IDS Next clients can obtain the IRN Number and QR code for e-invoicing directly from IDS Next interface, thereby completely departing from performing this on a manual system. Both ClearTax and IDS Next are also working on a similar integration for simplifying GST compliance for Indian hotels.