1 January 2022: Tomorrow i.e. from January 1, 2022, many rules related to your life will change. In these rules, there are rules related to deposit, debit and credit cards from withdrawing money from the bank. There will be changes in the GST law. The GST Council has also made some changes in the inverted duty structure in the footwear and textile sectors. All these changes will come into effect from January 1, 2022. Let us know about these rules.
Rules for using debit and credit cards will change
From January 1, the mode of payment by debit and credit cards will change. Actually, to make online payment more secure, the Reserve Bank of India (RBI) has changed the rules. Now while making online payment, you will have to fill all the card details including 16 digit debit or credit card number. That is, now the merchant website or app cannot store your card details during online shopping and digital payment. Any previously saved information will be deleted.
Cash withdrawal will be charged
Account holders of India Post Payments Bank (IPPB) will have to pay a charge for withdrawing and depositing cash from a limit. This rule will come into effect from January 1, 2022. There are three types of savings accounts that can be opened in IPPB. In which many types of facilities are provided. According to India Post Payments Bank, it is free to withdraw cash from Basic Savings Account four times every month. But after that every withdrawal will have to pay a minimum of Rs 25. However, there will be no charge for depositing money in Basic Savings Account.
Withdrawing money from ATM will be expensive from January 1
From next month, customers will have to pay more if they cross the free ATM transaction limit. In June, the Reserve Bank of India (RBI) allowed banks to increase charges for free monthly withdrawals from ATMs beyond a limit with effect from January 1, 2022. Every single bank gives cash and non-cash ATM transactions every month. Now from January 1, charge will have to be paid after the free limit. As per RBI guidelines, financial transactions above the free limit at Axis Bank or other bank ATMs will attract Rs 21 plus GST.
Google’s rules will change
Your payment card details will not be saved on Google Play Store. Any information already entered will be deleted. You will need to re-enter your information to make the payment.
LPG LPG Cylinder Price
LPG prices are fixed on the 1st of every month. This time it has to be seen whether cylinder prices increase on New Year’s Day on January 1, 2022.
GST will also have to be paid on shoes and readymade garments
According to the new tax rate, now shoes will be taxed at 12 per cent and now it does not matter what is the cost of the shoes. That is, 12 percent tax will have to be paid on shoes worth Rs 100. All textile products except cotton will attract 12 per cent GST. Readymade garments will also attract 12 per cent GST.
Online auto ride will also have to be paid GST
The transport service provided by the startup will also attract 5% GST. If the autorickshaw driver is providing the service in offline mode, then GST will not be applicable.
GST will have to be paid on ordering food online
From January 1, e-comm startups like Swiggy and Zomato will charge GST on the services provided by them. They will now have to submit the challan for such service to the government. However, this will not put a lot of burden on the final costers i.e. your pocket. Right now the restaurant is charging the same tax. The government took this step because in the last 2 years, food delivery apps had shown poor performance of 2000 crores. The government feels that by doing this the tax collection will increase.
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