Rule Change: From the price of LPG cylinder to the rules of digital payment, these big changes are happening from today

Pankaj Prasad
Pankaj Prasad
rules of Google, Post Payments Bank, Rule change, LPG cylinder, rules of digital payment, new year changes, FMCG

The first date of the new year has become a witness to some new rules and changes like every time.

New year has started. Some changes or new rules come into force in the country from the first of every month. In such a situation, the first date of the new year i.e. January 1, 2022 has become a witness to some new rules and changes. It can spoil the budget from your kitchen to your pocket. From common people to businessmen will be affected by these changes. Talking about the major changes, in the new year, from the price of LPG to the bank's ATM, debit-credit card as well as changes in the rules of Google and Post Payments Bank.

Withdrawing cash from ATMs is expensive,ie the increased fee will be applicable after the free monthly limit is exhausted. In this regard, every bank in its own way is giving information to the customers. Giving information in a bank notice, it has been said that with effect from January 1, 2022, the free limit plus ATM transaction fee rate will be increased from Rs 20 + GST ​​to Rs 21 + GST. This means that now customers will have to pay only one rupee more than before.

FMCG products will be expensive

The new year is going to start with inflation. From consumer electronics to auto, steel prices will increase. Along with this, you will also have to pay more than the new year for fast-moving consumer goods (FMCG) products and logistics.

Increase in the prices of clothes and shoes From January 1 next year, clothes and shoes are going to be expensive. This is because the Central Board of Indirect Taxes and Customs (CBIC) has reduced the rate of Goods and Services Tax to 12 percent for various types of garments, apparel and footwear. Earlier this rate was 5 percent. The new GST rate will be effective from January 1, 2022. However, the GST rates for some synthetic fibers and yarns have also been reduced from 18 percent to 12 percent.

Online auto booking will be expensive

Traveling by booking auto rickshaw online will also become expensive from the new year. In fact, under the changes in the tax rate and procedure in the GST regime, e-commerce service providers will have to pay tax on services provided in the transport and restaurant sector.

E-commerce companies like Swiggy and Zomato will also charge GST on their services as part of procedural changes to the 5% tax on online eating . Companies will have to collect GST in lieu of these services and deposit it with the government. For this they have to issue a bill of services. This will not put any extra burden on the consumers, as the restaurants are already charging GST.

Aadhaar Verification Required for Refund

To prevent tax evasion, the government has made Aadhaar verification with GST number mandatory for taxpayers claiming GST refund. From January 1, 2022, the GST refund of businessmen whose PAN-Aadhaar will not be linked will be stopped. Apart from this, now the GST refund will be sent only to the bank account, which should be linked to the PAN.

Appeal will have to be paid 25 percent fine

Under the new rule, if a businessman wants to challenge any decision of the tax authority against him, then he will have to pay 25 per cent of the fine imposed earlier. For example, if a product is seized for improper storage or non-compliance with the transport rules and the tax authority imposes a fine, then the dealer concerned will have to pay 25% of the amount of the penalty before appealing against the decision.

Tax vigorously at filling the notification in addition CBIC, there have also been major changes in the operation of the tax less filling or not filling. Till now, there was a long notice process of attaching bank accounts or properties against those who did this, which has now been abolished. This means that now the property will be attached without notice.

Mode of Appeal in E-way Bill

For the mistake in the transportation of goods through e-way bill, now the penalty will be doubled directly by eliminating the tax provision. Now on appeal against the penalty, only after filling 25 percent of it, there will be an appeal at the higher level. Earlier it was fixed at 10 percent of the tax.

The price of LPG is a fixed price of LPG on the first of every month. LPG prices have gone up and subsidies have also come down in recent months. It will be interesting to see whether cylinder prices increase on New Year's Day on January 1, 2022.

Rules of Digital Payment

While making online payment from the new year, you will have to fill the complete details of the card including the 16 digit debit or credit card number, that too every time you make a payment. That is, now whenever you do online shopping or make digital payment after shopping, you will have to enter the complete details of the card every time.

Website will not save details

Under this new change, merchant website, Google Pay or other apps will no longer be able to store or save your debit and credit card details. Apart from this, under the new system, if any information related to your card is already saved on the website or app, then it will now be automatically deleted. Like banks, now the account holder of India Post Payment Bank will also have to pay a fee for withdrawing money from the post office. If you withdraw and deposit cash in excess of a limit, you will have to pay a charge to IPPB for the same. This rule will come into effect from January 1, 2022.

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