If you’re an SME that started using many different payment methods after the 2020 lockdown, you probably offer your customers a mix of cash and cash-less payment options. Cash-less transactions have many benefits. They’re almost instant, create a digital record of every transaction, and are easy to use. Despite the benefits and the decline in…
When you apply for a business loan, lenders will ask you to submit some supporting documents along with your loan application. Your financials, bank statements, ITRs, and GSTR-3B forms (if applicable), may be included in the list of supporting documents. Learn about the GST tax regime. If you are a GST-registered business, you should be…
If you’ve got a business loan before or started doing your research to find the right loan for your business, you may have come across the team “CIBIL score” or “bureau score” or “credit score”. TransUnion CIBIL is one of the four credit bureaus in India, authorized by the Reserve Bank of India to develop…
Always keep up with your tax obligations! Your quarterly TDS Certificate (for any tax deducted for payments other than salary) during the quarter ending on September 30, 2021, is due on November 15, 2021! If you fail to issue a TDS certificate by the specified date, the tax authorities will fine you a penalty of…
Did you know lenders check your average bank balance (also known as your minimum account balance) when you apply for business financing? They do this to check whether you always have enough cash in your bank account to repay the EMI if they decide to lend to you. It also lets them know your business…
Having a CIBIL score or a credit score means you have borrowed in the past and have a repayment history. If you’ve never borrowed from a lender and don’t have a credit card, you will not have a CIBIL score. Yes, you can get an SME loan even if you don’t have a CIBIL score…
Secured business loans and unsecured business loans are the two basic types of business loans you can get as an SME business owner. The most significant difference between them is the collateral requirement. But there are some other distinctions you should also be aware of when you’re applying for a business loan. How is a…
CreditEnable is here to help you stay on top of your GST obligations! Depending on the type of business you own, or the type of GST payment schedule you follow, your GST returns for October 2021 are due soon. Here is a summary of the deadlines in November: November 11: GSTR 1 (Monthly) for October…
A one-off cheque bounce is a common occurrence that can happen to anyone for multiple reasons. But do you know how an SME loan EMI payment bounce impacts your credit? When your SME loan EMI payments bounce, it can have a lasting impact on your future loan prospects, so your financial actions 1-2 days after…
Here’s a step-by-step guide to help you get your GST registration online via the GST portal. What is the Goods and Services Tax (GST)? The GST is an indirect, multistage, destination-based consumption tax on value addition that came into effect on July 1, 2017. It is a “multistage” tax because it is charged at every…
