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Seattle-headquartered tax technology firm Avalara Inc is bullish about the prospects of its GST compliance solution for the Indian market.
The cloud-based SaaS (software-as-a-service) provider — focussed on indirect taxes — has also recently started offering e-way bill related services, which is expected to bolster revenues for its Indian operations in the coming days, Gautam Mukherjee, General Manager, Global Delivery - India at Avalara, told BusinessLine here.
“With India moving ahead in its path of digitisation, we want to be part of this change and extend benefits from our side. Our aspiration is to emerge as the No 1 indirect tax compliance company in India,” he said.
As e-bills get mandatory for intra-State trade in more States, the volumes are expected to go up, bringing significant increase in revenues for Avalara in India, he added.
The company, which has a presence in Pune, is eyeing tie-ups with ERP companies to expand its customer base, Mukherjee further said. It is also looking to provide indirect tax automation solutions to e-commerce players.
India’s GST compliance market is growing rapidly with every enterprise (beyond the ₹20 lakh threshold) required to file at least 36 returns in a year (for business operations in one State), and e-way bill being mandatory for inter-State trade.
According to tax experts, businesses present in multiple States have to file a large number of returns. At the last count, India had a little over 1 crore taxpayers/enterprises registered in the GSTN platform. The entire compliance system is largely automated, giving vast scope for digital solution providers.
In the US, Avalara is primarily into tax determination with compliance as an add-on service. “However, in India, it is the other way round. We are primarily into indirect tax compliance. At some stage, we may get into indirect tax determination in the Indian market as well,” Mukherjee said.
Avalara plans to empanel “more domain experts” as it goes about developing newer products for the Indian market, he added.
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