This year it is expected that the GST bill is roll out from September and software provider are struggling to have a big turnover of MSME segment and expected to have a market of invoicing and tax compliance IT requirements to produce approx Rs 36000 crore.

According to Mohit Bhambani, chief executive officer of city-based KDK Software,"Currently, only 90 lakh dealers out of the about 1.5 crores are using software for invoicing and filing returns and the rest are yet to adopt technology for this purpose".

He added,"GST will bring most of the more than 3 crore dealers into the tax fold and create a software market size of Rs 36,000 crore. Under the new regime companies would be required to show the tax they have paid while purchasing raw materials to claim the deduction from their tax obligation".

"Jaipur is the accounting capital of India producing 37% of the chartered accountants. On the other hand, Bengaluru is the Silicon Valley of India, the IT hub of the country. Development of tax filing and invoicing software requires both skills in equal measure, pretty much summing up why these two cities enjoy a leading edge," added Bhambani.

GST is applied to most of the MSME sector, to increase the demand it is expected to grow the additional workforce. 

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