What IRISGST does

IRISGST is the Indian tax technology arm of Sovos, headquartered in Vashi, Navi Mumbai, and built on the GST compliance division originally developed by IRIS Business Services. The company operates a cloud-based B2B SaaS suite targeting mid-sized and large Indian enterprises, anchored by IRIS Sapphire (multi-GSTIN filing and ITC reconciliation across GSTR-1, 3B, 9), and extended through IRIS Onyx (e-invoicing with instant IRN generation), IRIS Topaz (e-way bill management), IRIS LMS (litigation and notice management co-developed with DAA Consulting), IRIS ASAP (accounts payable automation), IRIS Credixo (data-based lending via RBI-registered partners), IRIS LookUp (AI-powered MCA struck-off company search), and the IRIS Peridot mobile app for GSTIN verification. It is one of the original GST Suvidha Providers (GSPs) approved by the Indian government and an authorized Invoice Registration Portal (IRP) under India's e-invoicing mandate, with ISO 27001 and ISO 9001 certifications.

The platform serves over 6,000 enterprise customers across more than a dozen sectors including automotive (Bajaj Auto, Lava), pharmaceuticals (Ajanta Pharma, Ipca, Sumitomo Chemical), industrial manufacturing (Larsen & Toubro, Thermax, Forbes Marshall, Schneider Electric), FMCG (Amul, Parle), logistics (DHL Supply Chain India), financial services (LIC Housing Finance), and consumer goods (Rushil Decor, Future Generali). GTM combines direct enterprise field sales with a channel/GTM partner ecosystem (Arteria, Rama, Softlink, Swipez, Winsoft, Grant Thornton, ICICI Bank | Saral GST, Moneycontrol | Easybiz) plus state-government tie-ups (Goa, Karnataka, Telangana) and mobile-app distribution for SMB/self-serve use. Pricing is quote-based and not publicly disclosed.

The company has no public revenue or funding disclosure and operates as a wholly-owned subsidiary of Sovos following the 2025 acquisition. It is positioned as the APAC operations hub of a global tax compliance platform spanning nearly 200 countries, with the legal entity remaining IRIS Business Services Limited in India. Product evolution is anchored to ongoing Indian regulatory changes, including the GST 2.0 reforms effective September 2025 and the roll-out of the Invoice Management System (IMS) with GSTR-3B hard-locking.

Name

IRISGST

Legal name

IRIS Business Services Limited

Website

https://irisgst.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

IRISGST is a Mumbai-based B2B SaaS provider of GST compliance software serving 6,000+ mid and large Indian enterprises. It operates an integrated e-invoicing, reconciliation, litigation, and AP automation suite as an authorized GSP and IRP, now the Indian tax technology arm of Sovos.

Ownership category

akta.pro rank

Product category

GST Compliance Software

NAICS

Custom Computer Programming Services (541511)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Indirect Tax (VAT/GST/Sales & Use) Services (BPAHABAJ)

Keywords

• GST compliance software
• E-invoicing solutions
• Tax filing software
• Input tax credit reconciliation
• Litigation management system

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. SaaS/Subscription – GST Compliance Software: Cloud-based subscription model for GST filing, e-invoicing, reconciliation, and compliance management platforms. B2B SaaS delivered as monthly or annual subscriptions targeting mid and large enterprises.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

IRISGST sells a cloud-based SaaS suite for Indian GST compliance covering the full lifecycle from e-invoicing and e-way bill generation through GSTR-1/3B/9 return filing, Input Tax Credit reconciliation via IMS, vendor risk monitoring, and direct/indirect tax litigation management. As an authorized GST Suvidha Provider (GSP) and Invoice Registration Portal (IRP), it serves over 6,000 mid-to-large enterprises with modules including IRIS Sapphire, IRIS Onyx, IRIS Topaz, IRIS LMS, IRIS ASAP, IRIS Credixo, and IRIS LookUp.

Product overview

IRISGST offers a comprehensive suite of GST compliance solutions designed for mid and large size businesses in India. The platform follows a modular architecture with IRIS Sapphire as the core GST software, complemented by specialized modules including IRIS Onyx (e-invoicing), IRIS Topaz (e-way bill), IRIS LMS (litigation management), IRIS ASAP (accounts payable automation), IRIS Credixo (data-based lending), and IRIS LookUp (MCA struck-off company search). The ecosystem also includes the Invoice Management System (IMS) for real-time invoice reconciliation and IRIS Peridot as a mobile application for GSTIN compliance checks. The company is an authorized GST Suvidha Provider (GSP) and Invoice Registration Portal (IRP) under India's e-invoicing mandate, acquired by Sovos in 2025.

Differentiator

Problem solved

Functional benefit

Brands

• IRIS Sapphire: GST Software for compliance, return filing, and reconciliation.
• IRIS Topaz
• IRIS ONYX
• IRIS LMS
• IRIS ASAP
• IRIS Credixo
• IRIS LookUp
• IRIS Peridot
• EasyWayBill

Products and services

• IRIS Sapphire Comprehensive GST compliance software enabling businesses to file returns (GSTR-1, GSTR-3B, GSTR-9), reconcile data, manage ITC, and access insights from a single dashboard. Targeted at mid and large Indian enterprises.
• IRIS Onyx E-invoicing solution that enables businesses to generate IRNs instantly by connecting with their billing systems, ensuring seamless, secure, and compliant e-invoice generation under India's e-invoicing mandate.
• IRIS Topaz E-Way Bill System for generating and managing e-way bills required for transportation of goods across India.
• IRIS LMS (Litigation Management System) Litigation and notice management platform for tracking, managing, and resolving Direct and Indirect Tax matters. Covers Pre-GST module, GST Audit module, Direct Tax notices, and GST-related notices across various appellate forums including GSTAT.
• IRIS ASAP Accounts Payable automation solution that streamlines AP workflows, automates invoice processing, and eliminates manual errors for improved efficiency.
• IRIS Credixo Data-based lending platform that leverages GST compliance data to facilitate collateral-free business loans up to Rs 75 lakhs through RBI-registered lending partners.
• IRIS LookUp MCA Struck-Off Company Search tool using AI-powered algorithms to search for struck-off companies by name or CIN, hosted on AWS native search and matching solutions.
• Invoice Management System (IMS) Invoice Management System enabling real-time document-level control over invoices, debit notes, and credit notes. Supports GSTR-2A/2B/IMS reconciliation, bulk mode filing, fuzzy logic matching, and vendor risk insights.
• IRIS Peridot Mobile application providing GST compliance details for any GSTIN, including taxpayer status, return filing history, compliance monitoring, watchlist functionality, and QR code scanning for e-invoice verification.
• EasyWayBill E-Way Bill solution specifically designed for transporters, enabling efficient management of e-way bill compliance for transportation operations.
• GST 2.0 Calculator Interactive calculator tool allowing businesses to compare old vs new GST rates on sales and purchases, instantly viewing the net impact on tax liability following the 56th GST Council Meeting changes effective 22nd September 2025.

Quantifiable outcome

• 100% ITC claim achievement with no missed due dates (as reported by enterprise customers like L&T, Bajaj, Thermax)
• +2 more outcomes

Named customers21 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature15 records

Partnerships

15 partnerships are on record, tiered flagship, core and minor.

• SovosflagshipStrategic or Co-development Partner · 1 January 2025Sovos acquired the GST compliance division of IRIS Business Services in 2025, creating IRISGST as the Indian tax technology arm of Sovos. This strategic acquisition brings together IRIS' local market leadership with Sovos' global tax compliance platform, enabling multinational businesses to meet their indirect tax obligations with greater confidence, automation, and scale. IRISGST now plays a key role in Sovos' APAC operations and global product roadmap.
• DAA ConsultingcoreStrategic or Co-development PartnerDAA Consulting is a specialized Indirect Tax Consulting Organization with in-depth experience in litigation, knowledge of the subject and understanding of practical difficulties faced by various industries. IRIS-DAA combined their individual strengths of Technology and Subject Matter Expertise to develop IRIS LMS (Litigation Management Solution) with AI, proactive alert mechanism, extensive reporting, and analytics dashboard.
• Grant ThorntonminorChannel Partner/ Reseller/ DistributorGrant Thornton is listed as a partner of IRISGST, likely providing co-marketing and referral services for GST compliance solutions.
• ICICI Bank | Saral GSTminorGTM or Marketing PartnerICICI Bank | Saral GST partnership for co-marketing and distribution of GST compliance offerings.
• Moneycontrol.com | EasybizminorGTM or Marketing PartnerMoneycontrol.com | Easybiz partnership for co-marketing and distribution of GST compliance offerings.
• ArteriaminorChannel Partner/ Reseller/ DistributorArteria is listed as a partner providing channel/reseller services for IRISGST products.
• RamaminorChannel Partner/ Reseller/ DistributorRama is listed as a partner providing channel/reseller services for IRISGST products.
• SoftlinkminorChannel Partner/ Reseller/ DistributorSoftlink is listed as a partner providing channel/reseller services for IRISGST products.
• SwipezminorChannel Partner/ Reseller/ DistributorSwipez is listed as a partner providing channel/reseller services for IRISGST products.
• WinsoftminorChannel Partner/ Reseller/ DistributorWinsoft is listed as a partner providing channel/reseller services for IRISGST products.
• AWS (Amazon Web Services)coreTechnology or IntegrationAWS is the cloud infrastructure provider for IRIS LookUp AI-powered MCA struck-off company search, using its latest native search and matching solutions.
• RBI Registered Lending PartnersminorGTM or Marketing PartnerIRIS Peridot facilitates collateral-free business loans up to ₹75 lakhs via RBI registered lending partners. IRISMSME platform acts as an aggregator connecting MSMEs with multiple lenders through a single application.
• Government of GoaminorGTM or Marketing PartnerGovernment of Goa partnered with IRIS MSME for MSME tools and compliance resources in Goa.
• Government of KarnatakaminorGTM or Marketing PartnerGovernment of Karnataka partnered with IRIS MSME for MSME tools and compliance resources in Karnataka.
• Government of TelanganaminorGTM or Marketing PartnerGovernment of Telangana partnered with IRIS MSME for MSME tools and compliance resources in Telangana.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Vertex, Inc. Vertex is a global indirect tax technology provider offering enterprise tax determination, e-invoicing and compliance solutions, addressing similar GST/VAT/CTC mandates as IRISGST at global enterprise scale.
• Avalara: Avalara is a global cloud-based indirect tax compliance platform serving enterprises across VAT, GST, sales tax and e-invoicing, comparable in addressing the same continuous transaction control mandates that IRISGST covers for India.
• Thomson Reuters (ONESOURCE): Thomson Reuters is a global tax technology and information services provider offering ONESOURCE indirect tax compliance and e-invoicing solutions for multinational enterprises, comparable to IRISGST in addressing continuous transaction control mandates globally.
• Wolters Kluwer (OneSource / SureTax): Wolters Kluwer provides global indirect tax compliance, e-invoicing and corporate tax solutions through its OneSource and SureTax platforms, addressing the same enterprise GST/VAT/CTC mandates as IRISGST's platform.

Direct peers

• Masters India: Masters India is an approved GST Suvidha Provider offering GST filing, e-invoicing and e-way bill software to Indian enterprises, directly competing with IRISGST's IRIS Sapphire, Onyx and Topaz product lines.
• IndiaFilings: IndiaFilings is an Indian compliance SaaS platform providing GST, income tax and business registration services to enterprises and CAs, overlapping with IRISGST's mid-market GST compliance offerings.
• Cygnet (Cygnet GSP): Cygnet is an approved GST Suvidha Provider offering tax compliance and e-invoicing APIs to enterprises in India, sharing IRISGST's GSP-authorized status and directly competing for enterprise indirect tax compliance workloads.
• Tax2Win: Tax2Win is an Indian tax filing and advisory platform serving consumers, CAs and small businesses with GST and direct-tax workflows, partially overlapping with IRISGST's compliance and reconciliation capabilities.
• ClearTax: ClearTax is India's leading direct-tax and GST compliance SaaS platform serving individuals, businesses and tax practitioners with e-filing, e-invoicing and GST return solutions, directly competing with IRISGST for enterprise GST compliance workloads.

Emerging players

• Tofler: Tofler is an Indian corporate data and MCA platform offering company information, struck-off searches and analytics, comparable to IRISGST's IRIS LookUp MCA struck-off company search product and adjacent data assets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/IRISGST1
• YouTubeyoutube.com/@IRISGST
• Xx.com/IRISGST
• LinkedInlinkedin.com/company/irisgstofficial

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IRISGST