 "Software firms eye big opportunities in small businesses after GST roll-out")
Software companies are sensing a big opportunity in the challenges small and medium enterprises will face in the transition to the goods and services tax (GST).
The government expects 8 million returns will be filed in the first month after the GST is rolled out on July 1. Over 90 per cent these will be by small and medium enterprises.
"We are serving 10,000 firms and look to expand by four times,” said Archit Gupta, founder and chief executive officer, ClearTax.com. The Bengaluru-based start-up builds underlying software for tax purposes.
"The GST is an opportunity for us to serve," said Sathya Pramod, chief financial officer, Tally Solution, which works with SMEs in indirect taxes and has more than 1 million licensed users. Its products Tally.ERP 9 and Tally.Server 9 will have GST modules built in.
EffiaSoft, a Hyderabad-based software firm, has built a mobile platform to help SMEs switch to the GST. "It is a self-serving platform where small and micro firms can enter details and it pulls the tax to be credited based on purchase and value added,” said Koushik Shee, founder and CEO of EffiaSoft.
Since its launch early this month, the firm said, the Android app had been downloaded 3,000 times. Called Justbilling, the platform available in local languages can be accessed by small enterprises for monthly fees of Rs 650.
“All the compliances are integrated and we will also allow filing of taxes once the API is ready,” Shee added.
Pramod said each enterprise had its own way of doing business. Tally will not interfere but will enable them to comply with the new regime.
Praveen Khandelwal, secretary-general of the Confederation of All India Traders (CAIT), however, advised Tally to come out with a business platform and not just accounting software.
Tally is one of 34 GST Suvidha Providers (GSPs), who will be the conduit between the taxpayer and the GST Network (GSTN) using the APIs provided by GSTN.
Tally is working with the CAIT and other business associations to create awareness about GST compliance. The CAIT will organise meetings in Jaipur and Raipur on this issue in later this month.
"People are now aware that everything is happening on record. Awareness about GST compliance is increasing," Gupta said.
The government expects 8 million returns will be filed in the first month after the GST is rolled out on July 1. Over 90 per cent these will be by small and medium enterprises.
"We are serving 10,000 firms and look to expand by four times,” said Archit Gupta, founder and chief executive officer, ClearTax.com. The Bengaluru-based start-up builds underlying software for tax purposes.
"The GST is an opportunity for us to serve," said Sathya Pramod, chief financial officer, Tally Solution, which works with SMEs in indirect taxes and has more than 1 million licensed users. Its products Tally.ERP 9 and Tally.Server 9 will have GST modules built in.
EffiaSoft, a Hyderabad-based software firm, has built a mobile platform to help SMEs switch to the GST. "It is a self-serving platform where small and micro firms can enter details and it pulls the tax to be credited based on purchase and value added,” said Koushik Shee, founder and CEO of EffiaSoft.
Since its launch early this month, the firm said, the Android app had been downloaded 3,000 times. Called Justbilling, the platform available in local languages can be accessed by small enterprises for monthly fees of Rs 650.
“All the compliances are integrated and we will also allow filing of taxes once the API is ready,” Shee added.
Pramod said each enterprise had its own way of doing business. Tally will not interfere but will enable them to comply with the new regime.
Praveen Khandelwal, secretary-general of the Confederation of All India Traders (CAIT), however, advised Tally to come out with a business platform and not just accounting software.
Tally is one of 34 GST Suvidha Providers (GSPs), who will be the conduit between the taxpayer and the GST Network (GSTN) using the APIs provided by GSTN.
Tally is working with the CAIT and other business associations to create awareness about GST compliance. The CAIT will organise meetings in Jaipur and Raipur on this issue in later this month.
"People are now aware that everything is happening on record. Awareness about GST compliance is increasing," Gupta said.
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