Important Rule Changes Effective March 1: From GST to FASTag KYC - Here's What You Need to Know

As we step into the final month of the financial year, March brings several significant rule changes affecting various sectors. These updates will impact users across the board, touching on areas such as Paytm Payments Bank, SBI Credit Cards, FASTag KYC, and fuel prices.

GST Rule Adjustments

Businesses with an annual turnover exceeding Rs 5 crore will now be required to include e-invoices for all B2B transactions when generating e-way bills, as per the latest GST guidelines.

FASTag KYC Extension

NHAI has extended the deadline for FASTag users to update their KYC details until the end of March. Failure to comply may lead to banks considering accounts with outdated information as invalid.

SBI Credit Card Changes

Starting March 15th, SBI is altering the minimum day bill calculation process on its credit cards. Customers have been notified via email regarding this upcoming adjustment.

Paytm Payments Bank Deadline

The RBI has extended the operational ban on Paytm Payments Bank until March 15, 2024. Customers and merchants are advised to transition their accounts to alternative banks before the deadline.

March Bank Holidays

March will witness 14 bank holidays, including Mahashivratri on March 8, Holi on March 25, and Good Friday on March 29, with the first holiday on March 1.

Fuel Price Fluctuations

Keep an eye out for potential revisions in LPG cylinder, CNG, and PNG prices, which are typically announced at the beginning of each month. New prices may be disclosed on March 1.