Software firms eye big opportunities in small businesses after GST roll-out

Govt expects 8 million tax returns in a month after July 1; Over 90% of these will be by SMEs

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