As March 2024 unfolds, brace yourself for a series of substantial changes set to impact diverse sectors, reshaping rules in GST, FASTag, banking services, and social media platforms.
LPG Prices on the Rise: Anticipate an upward surge in the cost of commercial LPG cylinders. In major cities like Delhi, Bangalore, Mumbai, and Chennai, projections indicate prices for 14.2 kg domestic gas cylinders reaching 1053, 1055.50, 1052.50, and 1068.50, respectively.
Bank Holiday Schedule: March brings a plethora of festivals, leading to banks observing 14 holidays, covering Sundays and second and fourth Saturdays. However, holiday schedules will vary across states, aligning with specific regional festivities.
FASTag Upgrades: The National Highway Authority of India (NHAI) has set February 29, 2024, as the deadline for FASTag users to complete their KYC upgrades. Ensure compliance to avoid any disruptions in your FASTag services.
Social Media Reforms: Instagram, Facebook, and X (formerly Twitter) have introduced platform enhancements. Articles spreading inaccurate information may now face penalties under the revised regulations, reinforcing the need for responsible content dissemination.
GST Amendments: From March 1, 2024, businesses with annual turnovers exceeding 5 crores will be required to generate e-invoices via the e-voice system, eliminating the option for traditional e-bills. Adapt your invoicing processes accordingly to stay compliant.
State Bank of India Initiatives: The State Bank of India is set to roll out changes in its credit card billing process, introducing minimum-day billing calculations in March. Keep an eye on your billing statements for these alterations.
Stay informed and proactively adapt to these forthcoming changes to ensure a seamless transition and compliance with the updated regulations.
