KOLKATA: Logo Infosoft, the Indian arm of South Eastern Europe's leading software vendor Logo, expect India to become their largest market in the next 2-3 years riding on a projected boom for Goods and Services Tax (GST) management solution market, a top company official said.
The government was trying to plug leakages in taxes and in this regard e-invoices is gaining importance. In the near future, e-invoices will become mandatory but for that entities need to adopt the digital system. The government was also trying to encourage the same through basic free software for entities below Rs 1.5 crore turnover for adoption. "India has potential to become the largest market for Logo in the next 2-3 years as huge potential lies ahead for GST management solutions as only 1.2 crore MSMEs have adopted GST solutions out of 6 crore total such firms," Logo Infosoft CEO Vinod Subramanian told PTI.
"With government free software scheme there will be a huge increase in firms using GST software who are potential future customers. We are also offering our solution Vyapari under the scheme which has approved 8 vendors," he said.
Subramanian claimed Logo is the only vendor having international expertise in e-invoices and their solution account for 90 per cent of the total e-invoices generated in Turkey. "Moreover, our solution can be integrated with digital payment and mobile PoS which are a differentiator from other solutions," he claimed.
Logo works in association with IRIS Business Services, a data solutions company and leading GST Suvidha Provider (GSP) appointed by GSTN, to tap the GST solution market. Subramanian said as the cost is a major hurdle for small businesses to adopt technology, but the company will offer a very competitive pricing for their solutions using cloud technology.