Indian IT eyes crores of rupees in revenue as firms rush to get GST-ready

The Goods and Services Tax is slated to be rolled out from July 1

India's information technology (IT) industry is likely to benefit in a big way as the goods and services tax (GST) roll-out leads to companies spending a few thousand crores of rupees in becoming GST-ready. 

While many large businesses, with thousands of partners and customers spread across the country, are spending “significantly” to upgrade their IT infrastructure, the Union government will also invest in setting up the technology infrastructure for GST and its maintenance.

GST is slated to be rolled out from July 1 and will replace the existing tax compliance system for businesses.

“For the GST regime, businesses and organisations