These new rules will result in significant changes which will have an impact on almost every user. Some of the important changes are related to Paytm Payments Bank, SBI Credit Card, FASTag KYC CNG and LPG prices, etc.
Several new rules will come into effect from the first day of March, which is also the last month of the current financial year. These new rules will result in significant changes which will have an impact on almost every user. Some of the important changes are related to Paytm Payments Bank, SBI Credit Card, FASTag KYC CNG and LPG prices, etc.
Here’s the list of changes that will come into effect from March 1
Changes in GST rules
With the new GST guidelines in place, any business generating an annual turnover of more than Rs 5 crore will not be able to generate e-way bills without including e-invoices for all their B2B transactions.
FASTag KYC
The National Highway Authority of India (NHAI) has extended the deadline for updating KYC for FASTag users till March end. Before this, NHAI had made it mandatory for FASTag users to update their KYC details. If not done, banks may consider FASTag accounts with un-updated information invalid.
SBI Credit Card
Starting from March 15th, the State Bank of India (SBI) is changing the minimum day bill calculation process on its credit cards. They've already sent emails to notify their valued customers about this upcoming change.
Paytm Payments Bank
RBI extended the deadline for Paytm Payments Bank and the operational ban on its services to March 15, 2024. It is advised that both customers and merchants shift their accounts to alternative banks before the due date. Following directives, Paytm Payments Bank had been ordered to stop its services after February 29.
Bank Holidays in March
Banks will remain closed for a total of 14 days in March, including March 8 (Mahashivratri), March 25 (Holi), and March 29 (Good Friday). The first holiday of the month is on March 1.
LPG, CNG, PNG Price
Prices for LPG cylinders, CNG, and PNG are subject to monthly fluctuations, usually revised at the start of each month. So, keep an eye out, the new prices may also be announced on March 1.
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 "From GST to FASTag KYC: Six rules to change from March 1; check details")
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