UPI payment, Cheque to GST will face changes from January 2021

UPI payment, Cheque to GST will face changes from January 2021 [ हिंदी में ]

New year introduce you with the following 11 changes in different sectors:-

1] RBI raises contactless card transaction limit to ₹5000/-

The RBI has said the limit can be further enhanced at the discretion of the customer.

In a move that could boost the adoption of digital payments, the Reserve Bank of India (RBI) increased the limit for contactless card transactions from Rs 2,000 to Rs 5,000, effective from January 1 next year.

2] Cheque transaction rules                                                                                                

To keep a check on banking fraud, RBI has decided to introduce from January 1, 2021, the 'positive pay system' for cheque payments.                                                    

In order to keep a check on the banking fraud, the Reserve Bank of India (RBI) has decided to introduce from January 1, 2021, the 'positive pay system' for cheque payments.

3] WhatsApp reduces its support to certain phones

WhatsApp will end support for some iPhones and Android devices.

WhatsApp will not function on devices that are not running iOS 9 or Android 4.0.3 operating systems.

Android phones that do not have Android 4.0.3 will lose access to WhatsApp.

4] Callers Will Soon Have to Dial ‘0’ Before Making Landline to Mobile Phone Calls

All landline users will soon have to dial ‘0' before making calls to mobile phone numbers, the Department of Telecommunications (DoT) has declared. All telecom providers have been intimated of this change and are given the deadline of January 1 to take all the necessary steps. 

5] UPI Payment

Users might be required to pay additional charges on transactions from Amazon Pay, Google Pay and Phone Pay. NPCI has reportedly decided to impose an additional charge on UPI Payment Service (UPI Payment) run by third-party app providers from January 1. NPCI has imposed a 30 per cent cap on third-party apps starting the New year. Though Paytm will be required to pay this charge, it has been reported.

6] Car prices

Car market leader Maruti Suzuki India and homegrown Mahindra and Mahindra will increase prices of its vehicles from January 1 to offset the adverse impact of rising input costs.

7] FASTag mandatory for four-wheelers

Vehicles regardless of year of manufacture and age should have it. To ensure payment of user fee via electronic means and seamless movement of vehicles through toll plazas, FASTag has been made mandatory for four-wheelers from January 1, 2021.

8] Google Pay web app to stop working from January 2021

As per the latest notice, now, Google has said that the web app site will no longer work from January next year. "Starting early in 2021, you won't be able to use pay.google.com to send and receive money from other people. To send and receive money, use the new Google Pay app," the company informed.

9] GST-Registered Small Biz To File 4 Sales Returns In A Year From January

The GST Council in its meeting on October 5 said registered person having an aggregate turnover up to Rs 5 crore may be allowed to furnish return on a quarterly basis along with monthly payment of tax, with effect from January 1, 2021.

With the launch of the QRMP scheme on December 5, taxpayers with up to Rs 5 crore turnover have the option to file their GSTR-1 and GSTR-3B returns quarterly beginning January-March period.

10] LPG Cylinder Prices

LPG prices in the country are revised by the state-run Oil Marketing Companies (OMCs) every month as the rates are dependent on international crude prices and the currency exchange rates.

11] Twitter users can submit verification requests from January 2021

Twitter shared its verification policy a week after it announced its plans to verify users in 2021. The company in the blog said that the verification process would begin in January 2021. Twitter will start accepting requests from users for verification three years after it discontinued the process.