New rules Since April 1: If you use PAN, Aadhaar and UPI, this message is very important to you. Some new rules related to them will be implemented from April 1, 2025, which will affect you, including the general public. If you do not complete the timely tasks, you can face the inconvenience. Please let us know which changes will be useful since April 1.
There will be a great change in UPI
The Indian National Payment Corporation (NBCI) is going to stop inactive or closed mobile numbers from April 1, 2025. If the old or closed number is connected to your bank account, you should update the new number before April 1, 2025 so that there is no space in the banking service. If your bank account is connected to the old or closed mobile number, you will have to face the bank and the UPI service block.
GST -related rules
From April 1, new changes in GST rules apply. Multiple factor recognition (MFA) for taxpayers in the goods and service tax (GST) portal will now be mandatory. In addition, the E-Way Bill (EWP) can only be done for the Aadhaar document, which is not more than 180 days.
This will change in the GST rule
The government has decided to implement the input service dealer (ISD) system from April 1, 2025. This system will help the state governments to collect the correct tax for the shared service given in one place.
What is ISD (input service dealer)?
Input service dealer or ISD is a way that can be properly divided into their different branches of the input tax loan received in the shared service. ITC (Input Tax Credit) is a tax deduction that businesses can use to reduce the GST purchased from the taxes imposed on their sales.
This change will be made in the rules of the National Pension System
The Pension Finance Regulatory and Development Authority (PFRDA) has created new rules to implement an integrated pension scheme (UPS) under the National Pension System (NPS). These rules apply from April 1, 2025, and will determine the eligibility and process of selecting UPS for central government employees.
Minimum balance law
Since April 1, many banks, including SBI, Punjab National Bank and Canara Bank, apply new rules relating to minimum existence. If the minimum reserve is not placed in the account, the penalties will have to be paid.
Credit card rules
Credit card rules change from April 1. Changes in credit card rules can affect the structure of some card holders reward points. SBI Simpslikl and Air India SBI Platinum Credit Card users will see changes in their reward point system. At the same time, Axis Bank will renew the benefits of its Vistara credit card after Vistara is connected to Air India.
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