It’s the new year on the cards so why not new rules? Abiding by the logic, private firms and the government has introduced some new rules in the country that will come into effect from January 1 and these are to surely change the way you do things. Have a look:
1. FASTag Mandatory
The Union ministry of road, transport and highways has recently notified that all four-wheeler vehicles, purchased before December 1, 2017, have to have mandatory FASTag. The order is a part of the government’s aim to make tolls cashless within the next two years.
Read more about the same here.
2. ‘Positive Pay’ system for cheques
In another rule that is all set to change, the RBI has notified about the new ‘Positive Pay’ system for cheques. The new system involves a process of reconfirming key details of large value cheques.
The system will require an issuer of the cheque to electronically submit (through channels like an app, SMS, internet banking, ATM, etc) certain details of that cheque like date, name of the beneficiary/payee, amount, etc. to the drawee bank. The details provided will further be cross-checked for additional security.
Read more about the same here
3. Increase in contactless card transaction limit
From January 1, the RBI, in a notification, said that the limits for contactless card payments will be increased from Rs 2,000 to Rs 5,000.
4. Quarterly Goods and Services Tax (GST) return filing facility
The new GST returns filing for small businesses is all set to change from January 1, 2021. Once the new rules come into effect, the companies with sales up to Rs 5 crore will have to file only four returns instead of 12 that are filed currently.
5. WhatsApp to stop working on these phones
WhatsApp is ditching the older versions of Android and iOS and will, from January 1, only run on phones with OS 4.0.3 and newer, iPhone running iOS 9 and newer and select phones running KaiOS 2.5.1 newer, including JioPhone and JioPhone 2.
6. Car prices to increase
In order to counter the adverse effect of lockdown in the industry, automobile manufacturers Maruti Suzuki India and Mahindra and Mahindra have decided to increase the prices of their vehicles from January 1.
7. Landline to Mobile calls
Callers will be required to add ‘0’ prefix for making calls from landlines to mobile phones in the country. The rule will come into effect from January 1.