All of these rules will change from January 1, 2022, affecting your day-to-day work

From next month, i.e. January 1, 2022, many rules related to your life will change.

1 January 2022: From next month, i.e. January 1, 2022, many rules related to your life will change. These rules include rules for withdrawing money from banks through deposits, debit and credit cards. GST law will change. The GST Council has also made some changes to the inverted duty structure in the footwear and textile sectors. All of these changes will take effect on January 1, 2022 Let’s not know about these rules.

Rules for using debit and credit cards will change

From January 1, the method of payment through debit and credit cards will be changed. In fact, to make online payments more secure, the Reserve Bank of India (RBI) has changed the rules. Now when making online payments, you need to fill in all the card details including 16 digit debit or credit card number. This means that merchant websites or apps will no longer be able to store your card details during online shopping and digital payments. Any previously saved data will be deleted.

Cash withdrawals will be charged

India Post Payments Bank (IPPB) account holders will be charged for withdrawing and depositing cash from a limit. This rule will be effective January 1, 2022. There are three types of savings accounts that can be opened in IPPB. Where many kinds of benefits are offered. According to India Post Payments Bank, it is free to withdraw cash from Basic Savings Account four times per month. But after that you have to pay minimum 25 rupees for each withdrawal. However, there is no charge for depositing money in Basic Savings Account.

Withdrawals from ATMs will be expensive from January 1

From next month, customers will have to pay more if they exceed the limit of free ATM transactions. In June, the Reserve Bank of India (RBI) allowed banks to increase charges for free monthly withdrawals from ATMs beyond a limit effective January 1, 2022. Each single bank makes cash and cash ATM transactions every month. Now you have to pay the charge after the free limit from January 1. According to the RBI guidelines, financial transactions above free limits at Axis Bank or other banks’ ATMs will attract Rs 21 plus GST.

Google’s rules will change

Your payment card details will not be stored in the Google Play Store. Any data already entered will be deleted. You will need to re-enter your information to pay.

Price of LPG LPG cylinder

The price of LPG is fixed on the 1st of every month. It remains to be seen whether the price of cylinders will go up on New Year’s Day, January 1, 2022.

Also pay GST on shoes and readymade garments

According to the new tax rate, now 12 per cent tax has to be paid on shoes and now the price of shoes is not considered. That means you have to pay 12 percent tax on shoes worth 100 rupees. 12 per cent GST will be levied on all textile products except cotton. Readymade garments will also be subject to 12% GST.

Online auto ride will also have to pay GST

Transportation services provided by startups will also attract 5% GST. If autorickshaw driver provides service in offline mode, then GST will not be applicable.

If you order food online, you have to pay GST

From January 1, e-commerce startups like Swiggy and Zomato will charge GST on the services they offer. They now have to submit invoices to the government for such services. However, it will not put too much burden on the end user i.e. your pocket. The restaurant is charging the same tax at the moment. The government has taken this step because food delivery apps have shown poor performance of Rs 2000 crore in the last 2 years. The government thinks that this will increase tax collection.

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