Technology company Vakrangee Ltd. rose more than 3.2 percent to Rs 374 after its board of directors approved a proposal to provide Goods and Service Tax (GST) related services, as companies get ready to be compliant with the new law which could come into effect from July 1.
The company will provide services like GST registration, return filings, payment and other value added services and will make use of the Vakrangee Kendra Outlets, the company said in an exchange filing.
This will be done by acting as an Application Service Provider (ASP)," the company's statement read.
The kendra outlets currently provide insurance and e-commerce products along with e-governance services.
Vakrangee already has 35,000 such outlets across 16 states and aims at reaching the 75,000 outlets mark in 2020, it added.
Also Read: GST Rules: Relief For Self Supply Services And A Worrying Provision For Existing Stock
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