Cleartax lines up $5 million for GST tech platform

Fintech startup Cleartax has lined up a USD 5-million investment to develop and roll out systems for Goods and Services Tax (GST) by April 1, 2017. According to a report the Gurugram-based platform has been brought on to the government’s not-for profit entity GST Network as a GST Suvidha Provider. GST Network is developing technology platform to […]

Fintech startup Cleartax has lined up a USD 5-million investment to develop and roll out systems for Goods and Services Tax (GST) by April 1, 2017.

According to a report the Gurugram-based platform has been brought on to the government’s not-for profit entity GST Network as a GST Suvidha Provider. GST Network is developing technology platform to enable GST collection.

“We are in the process of integrating with the application programming interface (API) of GST Network to develop an additional layer through which business entities can file their GST returns,“ said Archit Gupta, chief executive of Cleartax.

“We have already earmarked USD 2 million for it and have committed USD 5-6 million for developing the technology platform.”

Source: Economic Times