GST policy change effective on 1st January 2022: Many changes to ATM withdrawal fees in the GST policy will take effect.
The gains and tariffs on commodities (GST) will undergo significant changes as the new year 2022 approaches. The government has already announced the changes as of January 1, 2022.
Some of these exchanges include higher GST rates for clothing, textiles, and footwear, and online restaurants such as Swiggy and Zomato will still have to pay GST for the services they provide.
Here are the main changes to the GST effective January 1:
Rising prices for clothing, textiles and footwear
From January 1, the price of footwear and textiles, excluding cotton materials, will increase as the next 12% GST is charged. They used to pay 5% GST. All footwear, regardless of price, will be subject to 12% GST, while all textile materials except cotton, including ready-to-wear, will be subject to 12% GST. .
Online transport aggregators to come under GST ambit
Transportation services provided in offline / manual mode by rickshaw or taxi drivers may be removed, but these services are provided by online transportation such as Ola and Uber will be taxed from January 1, 2022. for hundred.
Food delivery platforms to come under GST
The exchange process that could be used includes online delivery services such as Swiggy and Zomato, which would require the writing and deployment of GST in the catering services available on the platforms from The One. 1st month. You will still need to provide the form. We respect this service.
As long as the restaurant keeps GST and government deposits, there will be no additional tax for end users. However, compliance with instructions and payments has now moved to the grocery store.
The measure indicates that the government estimates unemployment benefit for food delivery to be 2,000 rupees over the past two years. There are platforms responsible for GST filings that can help avoid tax exemptions.
Mandatory Aadhar authentication
Other evasion prevention measures, effective January 1, include requiring Aadhaar certification for GST refund claims and blocking GSTR-1 post offices if businesses do not pay. taxes and are suing GSTR-3B in the immediate past. hli. Current law prohibits shipping or returning supplies to GSTR-1 if the company does not complete Form GSTR-3B within the past two months. When the company announces the GSTR-1 for a special month from the 11th of the following month, the GSTR-3B, for which the company pays taxes, first submits a business term between the 20th and 24th of the month. following.
GST officers can visit premises without issuing prior show-cause notice
The GST was also changed to allow GST staff to visit homes to collect taxes without notice. GSTR-1. These measures will allow sellers to see more sales in GSTR-1, allow customers to request a tax deduction notice (ITC), and prevent threats of the first of the false claims reporting sales in GSTR-3B to reduce GST liability.
In addition to the GST exchange rate policy, banks will start charging higher rates for ATM withdrawals in addition to free exchanges from January 1, 2022.
New ATM withdrawal charges
From January 1, ATM withdrawals exceeding the free limit will be charged at Rs 21 per Rs 20 exchange rate. This is only charged if the customer exceeds the monthly trade limit.
Customers can set up up to 5 free ATMs (cash and non-cash) per month at their ATMs. Separately, you can make 3 free exchanges at other ATMs in metropolitan centers and 5 free exchanges at non-metro ATMs.