Online tax filing portal ClearTax plans to expand the size of its GST team to 400 and has earmarked USD 5 million to facilitate growth in business activities as companies are gearing up to become compliant to the upcoming tax regime.
The company has 150 employees in GST team at present.
The company is expanding its team to help businesses move to GST and plans to launch products for GST compliance, the company said in a statement.
It has collaborated with CAs to build tools and conduct webinars to educate businesses on GST.
The company will be hiring across product, tech, finance and marketing teams to fuel the GST growth and has extended its office space at the Bangalore headquarters to support the GST operations, the statement said.
"Besides expanding our team size and operational capacity, we are also creating products which will help businesses be GST-compliant with just the click of a button," ClearTax.Com Founder & CEO Archit Gupta said.
Gupta further said that "we are building infrastructure to support 1 billion invoices each month and are investing heavily in product and technology to bring about an easy transition to GST".
A multitude of indirect taxes such as VAT, customs duty, excise duty, CST, service tax and entertainment tax will be replaced with a single tax called the Goods and Services Tax (GST).
The government is expected to roll out the GST from July 1 this year.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)