Several rules that have a major impact in the lives of the ordinary citizen are going to change from September. These rules pertain to banking, financial and other sectors.
GST new rule
GSTN said in its advisory that Rule-59(6) of Central GST Rules which provides for restriction in the filing of GSTR-1, will come into effect from 1 September 2021. The new rule implements that a “registered person shall not be allowed to furnish the details of outward supplies of goods or services or both in Form GSTR-1 if he or she has not furnished the return in Form GSTR-3B for the preceding two months.”
New PF Rule
In an important reminder for the PF subscribers, linking of Aadhaar card with PF account till 1 September, failing to do which will mean that EPF benefits may be curtailed for you. If a PF account is not linked to Aadhaar or UAN is not Aadhaar verified, then its ECR-Electronic Challan cum Return will not be filled. This means, though employees can see their own PF account contribution, they will not be able to get the employer’s share.
Linking of PAN with Aadhaar
The deadline to link Permanent Account Number (PAN) with their Aadhaar is 30 September. Earlier the deadline was June 30 2021, which was later extended by three months.
The price of LPG cylinder cooking gas price has been hiked by Rs 25 per bottle from the previous price of Rs 859.5. A 14.2-kg subsidised and non-subsidised LPG cylinder now costs Rs 884.50 in the national capital as well as in Mumbai. With this, the price of a 14.2kg LPG gas cylinder in Kolkata will cost Rs 911 while in Chennai LPG cylinders will come at Rs 900.5.
Positive Pay System
RBI’s Positive Pay System though had come into effect from 1 January and several banks have already adopted the new system, Axis Bank will implement the same from 1 September onwards.
Bumper to bumper insurance for cars
Following the Madras High Court, it will be mandatory for 5 years to have bumper to bumper insurance on purchase of new car. This might push the prices of cars higher.
Bharat series (BH-series)
The transport ministry has introduced a new registration mark for new vehicles i.e. “Bharat series (BH-series)”.Avehicle bearing this registration mark shall not require assignment of a new registration mark when the owner of the vehicle shifts from one State to another.
PNB savings account
Punjab National Bank is going to reudce interest rates on saving deposits from starting 1 September. The new interest rate of 2.90% per annum will be applicable on both existing and new savings accounts holders.
Expensive OTT subscription
Disney + Hotstar subscribers will have to pay more for the OTT subscription. OTT players have increased their basic plan rentals from of Rs 399 to Rs 499.
Google is adding new restrictions in its Families Policy Requirements on identifiers used in apps that target children. Developers need to comply by 1 September 2021 except for Ad ID changes. For Ad ID, developers have until 15 January 2022 to comply. The company is adding a new section in its Enforcement policy to close inactive or abandoned developer accounts after 1 year of dormancy and additional factors.