Online tax platforms get ready to ride on GST compliance to boost business

Greater frequency of filing, higher volume of transactions give more revenue earning potential

Goods and Services Tax (GST) is fast emerging as the next growth spot for online tax return filing platforms. start-ups like ClearTax, TaxSpanner and Taxsmile, which have taken a lead in e-filing of income tax returns in India, are now turning their focus on the indirect tax domain to tap the vast universe of small and medium enterprises (SMEs) across the country.

As GST, which is considered to be the first major tax reform legislation in independent India, has made e-filing mandatory, this feature has opened a floodgate of opportunities for these online platforms that are rolling out various technology