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Since the introduction of the GST regime, one of the benefits is that your tax payments can be done online. To make GST payments more convenient, each registered taxpayer gets an electronic credit ledger. The electronic credit ledger displays the input tax credit balance available to the registered taxpayer. An electronic cash ledger reflects the amount of cash available to settle the tax liability.
There are several banks that provide MUDRA loans all across the country. Your MUDRA loan offer will depend on your lenders flexibility. If you have been a previous customer of the bank from where you are seeking a MUDRA loan, you will be able to negotiate lower interest rates and tenures. But your credit score will play an important role in getting the best offers. That is why having a good credit score is essential.
Indian citizens who have business plans for any non-farm income generating activities are eligible for a MUDRA loan. Manufacturing sectors and service sectors needing credit up to Rs. 10 lakhs can approach either a bank or an NBFC for availing a MUDRA loan under Pradhan Mantri MUDRA Yojana(PMMY). The eligibility criteria set by your lender would also have to be followed to qualify for the loan.
It is hard for unemployed people to get qualified for a good loan offer. Lenders would need proof of income to be convinced that you would be able to pay your monthly payments on time. But even though you are unemployed there are ways to get a loan. One way is by pledging collateral. Secured loans are lent to people who provide security to their loan. In case they are not able to pay back, the security they pledged will be taken as compensation.
Small Industries Development Bank of India (SIDBI) and Franchise India has been collaborating to provide financial support to established franchisors as well as to start-up franchisors. This collaboration was started as a funding initiative to help entrepreneurs make franchising models of businesses, which are less intimidating. SIDBI is an institution that helps franchisors procure funds for their business. NBFCs would also be willing to lend to businesses who need funds to expand.
GST is not applicable on loan interest. Before the introduction of GST, service taxes were levied on loans. The rate of service taxes were 15%, whereas the rate of GST is 18%. As there was a 3% increase due to the change in the tax scheme, some people might have assumed that interest rates would also be affected. But GST is not levied on EMIs of the loan or on the payment of interest on the loan. It will be levied only on the processing charges and other charges that your lender would be charging you.
Though online banking is quick and easy, it has its own disadvantages. Following are some of the common disadvantages of online banking.
The primary advantage of Netbanking is the liberty of not having to visit the bank branch to carry out various transactions. Following are some of the common advantages of using internet banking.
If you have an interest in studying about money, investments and how markets affect the global economy, then finance could be the right choice for you. Despite the economic downturn around the globe, finance careers promise great earning potential. The reason could be due to the indispensable part it plays in the growth for any employer.
To become a finance manager you should have a Masters degree in financial management, that will be an MBA in finance. There are courses that are specifically meant for financial management: Master of Business Administration (Finance), Post Graduate Diploma in Financial Management (PGDFM), Master of Financial Control (MFC). After acquiring required qualification, you can apply for a job as a Financial Manager.
UPI stands for Unified Payments Interface which is a real time payment system which was designed by National Payment Corporation of India. The interface is monitored by the RBI and can be used to transfer money from one bank account to another using mobile platforms.
Unified Payments Interface (UPI), developed by National Payment Corporation of India, is a real time payment system that is used for transferring money from one bank account to another using mobile platforms. The payment system is monitored by the Reserve Bank of India.
Unified Payments Interface (UPI) is a real time payment system that is used for transferring money from one bank account to another using mobile platforms.
Internet banking has turned the banking industry easily accessible to millions of people. From opening a bank account to applying for a loan, internet banking has varied uses. Following are some of the important uses of internet banking.
GST is not applicable on your EMI payments. Before the introduction of GST, service taxes were levied on loans. The rate of service taxes were 15%, whereas the rate of GST is 18%. People might think that the EMI costs will be affected because the rate of GSTs increased by 3%. But GST is not levied on EMIs of the loan or on the payment of interest on the loan. It is levied only on the processing charges and other charges that your lender charges you.
Anyone who needs a MUDRA loan can approach a bank, NBFC or an MFI directly and apply for the loan. Borrowers also have the option of applying through an online portal. You would need to have your necessary documents ready before approaching your lender for applying for a loan.
Lenders would want an assurance that you would be able to repay your loans. So they will check your monthly income, to determine whether you’ll be able to pay back your loan in instalments on time. Since unemployed people wouldn’t have an income at the moment, it would be hard for lenders to judge their creditworthiness. And thus getting loan approval without having a job becomes nearly impossible. But payday loans are loans that are not provided by conventional lenders and these lenders grant you loans without credit assessment.
Mudra loan is a Government of India undertaking, which was started to provide financial support to small businesses in the country. Under this scheme, loans are provided by banks to non-corporate, non-farm sectors whose credit needs are upto Rs. 10,00,000.
Mudra loan is a Government of India undertaking, which was started to provide financial support to small businesses in the country.
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