Mumbai is the commercial capital of India. It attracts a lot of business man from around the country and plays a significant part in the overall industrial output in India. The city has several industries and many new small and medium industries, with a number of rising industries in Mumbai, there’s a need for business finance as well.
Business loans available at Finserv MARKETS help small businesses reach their full potential. Bajaj Finserv Business Loan in Mumbai are collateral-free and are designed to help the small businesses reach new heights. By applying for business loans with Finserv MARKETS, you can meet different needs of business ventures, such as machinery loan, unsecured working capital loan, capital loan, and term loan.
Our loan disbursement process is quicker and the business loan amount gets credited directly in the borrower’s bank account within a few working days after approval. With our flexible loan repayment tenure, the loan can be repaid easily through easy monthly installments. Our loans for small businesses in Mumbai are designed to provide momentum to the growing small businesses.
The Goods and Services Tax (GST) has a big impact on the market for goods and services in India. If you are a business owner or have the plan to get started with a business, you may wonder how the GST rate will impact you. Here are some of the ways that GST has an impact on businesses.
Before GST, a business owner had to keep track of a number of different taxes and payment timelines. You might have even had to hire a team of people to look into and take care of your tax filing and documentation. By combining all indirect taxes under one, GST has made it simpler for your business to calculate taxes and stay on top of your tax payment.
Being an entrepreneur you would have to make a VAT payment for your small business varied from state to state. This was especially complicated if you operate your business in more than one state. Under the new regime, you are not required to register for GST if your business has a turnover less than Rs.20 lakh and you operate within the state. If you have a combined turnover of less than Rs.75 lakh, when you opt for the Compensation Scheme, as a trader you will have to pay 1% tax, as a manufacturer, you will have to pay 2% and as a restaurateur, you will have to pay 5%.
With GST, certain products will be more expensive to purchase for the consumer. For example, in Maharashtra, tax on plastic items has been raised from 18.5% to 28% and steel utensils become cheaper, with tax-reducing from 18.5% to 5%. Depending on the industry you operate in, you may find that your selling price has hiked or fall due to GST, and this may eventually have a positive or negative impact on your business revenue.
As an online taxation system, GST is replacing manual filing systems with the old tax regime for the better. This means that it’s easier to identify tax fraud and there is more transparency in transactions. Also, any errors you may make while filing GST are easier to correct.
Long back in order to start a new business, you needed to get VAT registration and Service Tax registration, to name a few tax documents that varied from state to state. The process was more tedious if you planned to operate your business in multiple states. Now with GST, a single point of registration makes registering your start-up a lot easier. GST input credits have been made available for all in-state and out-of-state purchases to increase cross border businesses.
To apply for a Bajaj Finserv Business Loan you need to follow the steps below.
The online application process makes it easier for anyone to apply for a loan for your business. You simply need to fill in your personal and employment details to get started with the process.
You need to provide your loan details specifically like the amount you require for your business and the repayment tenure of the loan.
Our representative will process your loan application within a few hours after you submit it. With loan approval in 3 minutes, you can expect to get the money credited in your bank account within 24 hours.
Quick disbursement of loan makes it easier for a business owner to utilize it for their business. With Bajaj Finserv Business Loan your loan amount would get disbursed within a few hours after you get done with the final paperwork and sign a contract with us.
By getting a loan at Finserv MARKETS, you can get the finance you need to purchase equipment for your business. Bajaj Finserv Business Loans have attractive interest rates. The loan amount can be used for undertaking various business operations, such as an expansion of your business, acquisition of other companies, buying high-value and getting new machinery or equipment, etc. Finserv MARKETS business loans are collateral-free, which means you do not have to put your personal or business assets on the line to get the finance for your business. You can simply apply for a loan online and get pre-approved offers for an instant loan without security at Finserv MARKETS.