Is GST the turning point for Indian Fintech Industry? How will this help in SME loans?
The Goods and Services Tax (GST), was a landmark indirect tax reform, passed by the NDA Government that has considerably eased the process of business operations and ensured higher tax collections. It has facilitated enhanced transparency and simplification of the tax process for the SMEs. The GST has eliminated the hassles of multiple tax structure and significantly reduced paperwork.
The Fintech industry which is already spearheaded the paperless, digital revolution is a key beneficiary of the GST law. Fintech companies grant SME business loan to eligible borrowers, only upon submission of GST returns. This provides the lender an indication of …Is GST the turning point for Indian Fintech Industry? How will this help in SME loans? Read More