With the start of the new year 2022, citizens are going to witness a number of major changes in the banking and financial sectors. Hence, please read on below to find out 5 major rules that are going to come into effect from 1 January 2022.
1. Filing GST is compulsory otherwise you shall be banned from filing GSTR-1
The GST Council has announced that businesses which fail to file a summary return or default in paying GST monthly, will be banned from filing GSTR-1 sales return from 1 January 2022.
2. Change in ATM withdrawal charges
From 1 Jannuary 2022, customers will be required to pay Rs 21 per transaction on any ATM withdrawal instead of the previous Rs 20 charges, provided the monthly limit of free transactions is exceeded.
3. Change in price of LPG gas cylinder
Depending upon the price of crude in the international market, the prices of LPG gas cylinders may also see a change from 1 January 2022. However, an official announcement about the same will be made soon, provided this change in price is implemented.
4. Change in service charge for ICICI Bank customers
ICICI Bank is all set to change the Service charge on the ICICI Bank Savings Accounts from January 1.
5. India Post Payments Bank (IPPB) deposit/withdrawal charges
From 1 January 2022, IPPB accound holders will have to pay a sum for removing and depositing cash adding up to Rs 10,000.
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