Tax submitting startup ClearTax acknowledged that it has acquired the GST software program and companies enterprise of Karvy Knowledge Administration Providers for an undisclosed quantity to spice up its GST clientele.
With this acquisition, greater than 200 enterprise prospects of Karvy will transfer to ClearTax, which will even be hiring workers from the GST division of Karvy Knowledge Administration Providers.
In an announcement, ClearTax stated that the acquisition will bolster its GST enterprise buyer base, furthering its market share within the business.
ClearTax has greater than 400 prospects who’re on SAP and it’s engaged on integrating these prospects with its e-invoicing product. These prospects will probably be utilizing the complete suite of GST choices from ClearTax.
Talking on the acquisition, Archit Gupta, Founder & CEO, ClearTax, stated,
“With this strategic acquisition we can shortly scale up our GST buyer base. The brand new enterprises will profit from all of our GST options, together with e-invoicing, and can have the ability to adjust to the brand new regulatory regime easily.”
ClearTax’s new GST return submitting system, GST 2.zero, mixed with its e-invoicing and e-way invoice software program, will make it simpler for purchasers to remain GST compliant whereas making certain environment friendly use of their working capital.
Again in October 2019, ClearTax additionally stated that it acquired Bengaluru-based audio streaming platform Dose FM for an undisclosed quantity. The acquisition was in the direction of bolstering its cell capabilities and enabling the platform to quickly construct accounting, analytics, and governance merchandise to expedite its mission to unravel monetary issues of MSMEs.
In November, ClearTax additionally rolled out an internet GST course with plans to generate enterprise of Rs 100 crore by March 2020.
The corporate additionally set a goal of coaching 75,000 tax professionals, and greater than two lakh companies via new e-learning course in partnership with on-line training platform Udemy earlier than the launch of the brand new GST return submitting system.
(Edited by Evelyn Ratnakumar)