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Business Loan GST Calculator

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Wholesaler
Net Price
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GST%
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Cost of Production
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%
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GST%
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CGST Amount

IGST Amount

Total Tax

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Disclaimer: The aforementioned values, calculations and results are for illustrative and informational purposes only and may vary basis various parameters laid down by Tata Capital.

Business Loan GST Calculator

If you want to know the GST amount that you need to pay on your business loan, you can use a business loan GST calculator. A GST calculator is a simple online tool that can help you calculate GST amounts in the simplest manner. For example, you can use Tata Capital GST Calculator to calculate GST online by simply entering the net price of a product and the applicable GST rate.

How is GST Calculated on a Business Loan?

In the case of a business loan, the GST is levied on processing fees, pre-payment charges, foreclosure charges, or any other charges paid to the lender. The easiest way to calculate the GST amount on a business loan is to use a business loan GST calculator. You can easily find a GST calculator online and enter the net charge and the GST percentage to determine your payable GST amount. 

Apart from the GST tax calculator, another method to calculate GST amount is through a manual calculation. To calculate the GST on your business loan through the manual method, you will need to first determine the rate of GST applicable on your business loan. Once you know the applicable GST rate, you can use the following formula for finding GST:

GST = Original Cost x Rate of GST in % / 100

Then, you can calculate the Net Price by adding the GST amount to the original cost.

For example, let’s say that you have taken a business loan of Rs. 20 lakhs, and your lender is charging you a processing fee of 2% on it. Then, your processing charge would come to 2% of Rs. 20 lakhs, i.e., Rs. 40,000. Now, as per the GST Council rate, 18% GST is charged on loan processing fees.

So, in this case, the payable GST on your business loan processing fee would be 18% of Rs. 40,000, i.e., Rs. 7,200.

However, calculating GST manually is a time-taking process. It is also prone to human errors. That is why the best way to calculate GST is through a GST calculator in India.

How to Use a GST Calculator?

GST calculators are extremely easy and convenient to use. You can find a GST calculator online and simply enter a few values into it to calculate the GST amount. Here’s how you can use a Tata Capital GST Calculator to evaluate your total GST implications:

1

Select between Wholesaler, COG, or COP.

2

For Wholesaler, input the Net Price and the applicable GST rate in %. For COG, input the Cost of Goods, Profit Ratio in %, and the applicable GST rate in %. For COP, input the Cost of Production, Profit Ratio in %, and the applicable GST rate in %.

3

Once you enter these values, our GST calculator will instantly display the Gross Price, CGST Amount, IGST Amount, and Total Tax.

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Thinking of expanding your business?  Want to take your business to new heights? From expanding your operations to upgrading your equipment, Tata Capital has got your back! Let Tata Capital business loans fuel your entrepreneurial spirits and help turn your business dreams into reality!

8th May 2020 0:55

Popular FAQs

What is a Business Loan?

Every business, irrespective of its size and age, requires funding from time to time. A business loan can help you avail of the required business funding, and then repay the loan amount in Equated Monthly Installments or EMIs. You can apply for a business loan to meet various short-term and long-term financial requirements of your business, such as getting access to working capital, hiring new employees, buying new equipment, upgrading workplace infrastructure, procuring inventory, or leasing new premises for business expansion.

Why should I apply for a Tata Capital Business Loan?

You can apply for a business loan with Tata Capital to meet all the financial requirements of your business. At Tata Capital, we provide an instant business loan so that you don’t have to wait to expand your business. Here’s why our business loan can be the best option for you:

  • Our business loan interest rates are highly competitive, starting from just 12% per annum*

  • You can choose your business loan amount between Rs 0.40 lac and Rs 75 lakh

  • We don’t ask for collateral or security for providing business finance

  • You have the flexibility to choose from several EMI plans

  • If you’re an existing customer, you can get pre-approved offers on our business loan

  • There are no strict eligibility criteria that you need to fulfill

  • You can apply for an online business loan and get instant approval

What are the documents required for a Business Loan?

At Tata Capital, we provide business loans with easy eligibility and minimal documentation. Here are the business loan documents that you will need to submit to avail of a business loan from us:

  • KYC documents, including a photo ID and address proof

  • Business proof, such as business registration certificate, trade license, GST registration certificate, or a certified copy of the partnership deed agreement or sole proprietorship declaration

  • Income proof, such as the last two years' income tax returns (ITRs) and computation of income, last two years' audited financial with tax audit report, last two years' profit-loss statements, or balance sheet (duly audited by a chartered accountant)

  • Current account bank statements and GST returns for the last six months

You may also require some additional documents at the time of loan processing. Visit the documents required page for more details.

Who can get a Business Loan?

We offer business loans for self-employed professionals (doctors, CAs, etc.) as well as non-professionals. Here is a list of customers that can apply for a business loan from us:

  • Self-employed individuals

  • Proprietorship firms

  • Partnership firms

  • Limited liability partnership firms

  • Private limited companies

  • Closely held public limited companies

  • Hindu undivided families (HUFs)

  • Trusts and societies

What are my options to repay a Business Loan?

At Tata Capital, ensuring customer convenience is our top priority. That is why we allow the repayment of business loan EMIs through various payment instruments. You can choose to pay your EMIs through a direct debit facility, post-dated cheques (PDCs), or electronic clearance service (ECS).

How can I apply for a Business Loan?

With Tata Capital, you can apply for an online business loan by visiting our website and entering a few basic details. Or call our customer helpline number 1860 267 6060 to apply for a business loan through your phone. You can even visit your nearest Tata Capital branch and get in touch with one of our executives.

Can I get a Business Loan without collateral?

Yes. At Tata Capital, we don’t ask for collateral or security for providing business finance. This means you don’t have to put your personal or business assets on the line to qualify for business funding. Our business loans are 100% collateral-free.

How to get a Business Loan approved for an online business?

If you are running an online retail store or an e-commerce website, you can apply for a business loan with Tata Capital for your working capital requirements. To get your online business loan approved, you must fulfill the following eligibility criteria:

  • Your CIBIL score should be above 700

  • Your business turnover must show an upward trend

Will a Business Loan affect my credit score?

Yes. If you have taken a business loan for your sole proprietorship business or partnership business, it will reflect in your personal credit report. If you fail to repay your business loan on time, your credit score might be impacted. However, if your company is an LLC, your business loan would affect only your business credit score and not your personal credit score.

How does a Business Loan affect taxes?

By availing of a business loan in India, you can reduce your taxable income. Any interest levied on a business loan is eligible for tax deductions since the interest paid on a business loan is considered to be a business expense and not revenue. However, the principal component of a business loan is not tax-deductible.

Am I eligible for a Business Loan?

Business loan eligibility criteria can vary from one lending institution to another. To become eligible for a Tata Capital Business Loan, you need to fulfill the following requirements:

  • Your age should be at least 21 years at the time of applying for the business loan and not more than 65 years at the time of the last EMI

  • Your credit score should be at least 650 or more

  • Business should be profitable

  • Minimum 2 years business stability

  • Banking balance should be at least Rs. 5000 

For more details on our business loan eligibility criteria, visit our Business Loan Overview page.

Do I need to have a business account to get a Business Loan?

A business account is not mandatory to get a business loan if you are running a sole proprietorship business. However, for a partnership business, corporation, or LLC, having a business account is mandatory for getting a business loan. 

How much EMI do I need to pay for my Business Loan?

Your business loan EMI would depend on several factors, such as your business loan amount, loan tenure, and the applicable business loan interest rate. You can use our online Business Loan Calculator to know the exact EMI that you would have to pay for your business loan.

What is the maximum amount of Business Loan I can take?

At Tata Capital, we provide business loans of up to Rs 75 lakh. However, the maximum business loan amount you can take will depend on your business loan eligibility and credit score. By having a good credit score and a profitable business, you can avail of the maximum loan amount.

How long can I take to repay my Business Loan?

With Tata Capital, you can take up to 60 months to repay your business loan. You have the flexibility to select a business loan tenure as per your repayment capability. You can even choose from different EMI plans to repay your business loan as per your income cycle.

Is the loan interest rate fixed or floating?

At Tata Capital, the interest rate for a business loan is fixed. It means that your business loan interest rate and the EMI would not change during its repayment tenure. Our interest rate starts from - Self-Employed Non-Professional: 15% - 25%, Self-Employed Doctors: 12.00% - 15.00%, Self-Employed Professional Other than Doctors: 13.00% - 17.50%

What are the Flexi EMI Plans available to me?

At Tata Capital, we offer two types of Flexi EMI plans for business loan repayment:

  • Step Up Flexi EMI Plan: This repayment option allows you to pay lower EMIs in the beginning and then increase them gradually as your income grows. This plan helps in managing your loan repayment as per your income flow. 

  • Step Down Flexi EMI Plan: This repayment option allows you to pay higher EMIs in the beginning and then reduce them gradually. This plan helps in reducing your interest outgo significantly.

How to apply for a Business Loan?

You can apply for an instant business loan with Tata Capital and get on-the-spot approval for business funding. To apply for a business loan with us, you can take any of the following routes:

  • Online: You can apply for a business loan online through our website. The process should not take you more than 10 minutes 

  • Phone: Call our customer helpline number 1860 267 6060 between 9 am and 8 pm Monday through Saturday to apply for a business loan through your phone

  • Branch: Visit your nearest Tata Capital branch with the required business loan documents. Our executive will guide you through the business loan application process

Find the right Loan for you

Machinery Loans

If you’re into a manufacturing business, you may need to install the latest machinery or equipment in your factory.

You can apply for a machinery loan with us to fund the purchase of your business-related tools or equipment.

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MSMEs are the second-largest employer in India after the agriculture sector.

To help these MSMEs grow and flourish without being affected by financial hurdles, Tata Capital offers MSME loans or SME loans at competitive interest rates.

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Overdraft Loan

If you’re unsure of the total loan amount that you may need for your business, you can avail of a business loan overdraft facility or an overdraft business loan.

With Tata Capital, you can get an OD loan for business of up to Rs. 75 lakhs at an affordable interest rate.

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Small Business Loan

Tata Capital’s small business loans are tailor-made loans to help micro and small businesses in India meet their urgent monetary requirements.

You can apply for a new small business loan online and get the funding from the comforts of your home or office.

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