5 startups that are helping MSMEs file GST returns seamlessly
Here is the list of five startups that have been working towards making the filing of GST returns for MSMEs seamless.
Micro, small, and medium-sized enterprises (MSMEs) are the backbone and the key drivers of the Indian economy. They are considered as the growth engine of the nation, with more than 6.3 crore MSMEs contributing almost 29 percent to the nation's GDP.
But many of them find that filing GST returns can be taxing (pun intended). Whether they are issues related to registration, input tax credit, or time limits, MSMEs find themselves in the need of support to observe GST compliance
YourStory has curated a list of five startups that are providing seamless solutions to MSMEs to file GST returns.
Clear
Founded in 2011 by Archit Gupta, Ankit Solanki and Srivatsan Chari, Bengaluru-based Clear (formerly ) offers Clear GST software which is an all-in-one cloud-based toolkit that simplifies GST return filing experience. Along with error-free automated ingestion and smart reporting, the platform uses APIs to upload and perform filing workflows seamlessly from the ERP systems.
Clear uses secure file transfer procedures to place documents in servers and get auto-scheduled uploads. The platform can also transfer data with connectors or custom Excel-based templates. Ola, Saavn, and Ecom Express are among the brands that adopted Clear GST for GST filing.
“India is on a massive digitisation journey and we are fortunate to be in the perfect storm of electronic invoicing, GST, UPI, cheap mobile internet, and rapid adoption of technology due to COVID-19. We are doubling down on our SaaS platform to help businesses with collateral-free debt and payments,” said Archit.
Treflo
Founded in 2019 by Rahul Meena, Bengaluru -based is a mobile-friendly SaaS platform aimed as a productivity suite for Indian SMBs. The product ties into the businesses' current workflow, making the current processes more efficient through automated workflows for GST billing, payments, one-click compliance, managing staff, customers and cashflow management with growth insights, and more, aimed to empower SMBs with tools that were limited to large enterprises.
The platform helps businesses to manage their GST and tax filing with auto-reminders, hassle-free.
myGSTcafe
Founded in 2017 by Satish Bhatia, Abhishek Porwal, and Arjit Gupta, Kanpur-based startup offers technology solutions in the fields of finance, taxation and e-governance.
myGSTcafe co-founders, Satish Bhatia, Abhishek Porwal and Arjit Gupta
The offline application is created for corporates and charge experts to deal with end-to-end GST compliance and assist organisations to claim GST Input Tax Credit (ITC), and complete GST audits and reconciliation hassle-free.
“The AI algorithms of myGSTcafe software analyses the patterns of invoice number and transactions, and matches the GSTR-2A with the purchase register easily within a few minutes,” Arjit said in an earlier conversation with YourStory
myBillBook
Launched in 2020 by Rahul Raj, Rakesh Yadav and Aditya Naik, myBillBook offers billing software that helps businesses create professional bills and share them with customers on WhatsApp within a few seconds. myBillBook allows users to make customised GST bills and print them using regular and thermal printers.
The startup offers 10-plus GST bill or GST invoice formats. With this billing software, businesses can track their sales and purchases accurately.
Vyapar
Started in 2016 by Sumit Agarwal and Shubham Agarwal, Bengaluru-headquartered offers free GST billing software that provides a user-friendly interface. It allows users to create and print highly customised invoices and send them to your users with ease.
Vyapar's mobile-first helps organisations with creating bills and GST solicitations, managing exchanges, making smart choices on stock buys, and giving access to accounting reports on the smartphone to owners.
The app is available on Google Play Store.
L to R: Shubham Agrawal and Sumit Agarwal, Co-founders, Vyapar
“We want every small business in India to have a technology-based business management solution that is very simple to use, is accessible to all and is affordable. A good part of business operations can be managed quite easily through tech and as a result, the whole focus of a business owner can be on growth, efficiency and profitability,” said Shubham in a previous conversation.
In January 2022, the startup raised $30 million led by WestBridge Capital to accelerate its growth and distribution.
Edited by Kanishk Singh