BENGALURU|MUMBAI: Online tax filing platform ClearTax has acquired the goods and services tax ( GST ) filing business of financial services firm Karvy for an undisclosed amount.The deal has come at a time when Karvy’s stock broking unit is looking to sell assets and raise capital to clear dues to banks and investors.

The all-cash deal will see ClearTax acquiring only the GST business of Karvy Data Management Services, including its around 200 enterprise customers and 25 employees, apart from the tech platform.

It’s almost an arm’s length kind of transaction,” said Archit Gupta , CEO of Clear-Tax.

Moreover, while Karvy was only providing its customers GST filing services, ClearTax can now tap them with its reconciliation and EWay bill solutions, apart from electronic invoicing.

Gupta said that ClearTax was actively looking at more acquisitions to grow inorganically. | To read full story, visit https://startuparound.com/read/1583292910.9747152/ClearTax-buys-GST-filing-unit-of-Karvy?ref=audio_experience