Rules Change from March 1 2024: From March 1, businesses with turnover above Rs 5 crore will not be able to issue e-way bills for all B2B transactions without including e-invoice details.

New Delhi:

Rule Change From 1st March 2024: The third month of the year 2024 i.e. March has started. Like every month, many types of rules have changed with the beginning of this month.

Many such new rules (New Rules From 1st March 2023) are going to be implemented from March 1, which will directly affect the common man.

Along with this, there is a possibility of many changes during the month of March (New Rules March 2024).

In such a situation, it is very important for you to know about these changes, because they can affect the common man.

With the beginning of the month of March, new rules related to Fastag KYC, Paytm Payments Bank, Bank Holidays have also come into effect.

These also include changes in the prices of petrol, diesel and LPG.

Here we are going to tell you about some big changes taking place in March.

So let us know.

Changes in petrol and diesel prices

Petrol-Diesel price has been changed across the country. Government oil companies change the fuel rates on the first of every month.

Today i.e. on March 1, 2024, there has been no change in the prices of petrol and diesel at the national level. For a long time, oil companies have not made any change in the prices of petrol and diesel at the national level. But the prices have changed at the state level.

In such a situation, before filling the oil, you must check the latest rates of petrol and diesel (Petrol Diesel latest Price). 

Banks will remain closed for 14 days in the month of March (Bank Holiday In March)

According to the information given on the official website of RBI, banks will remain closed for 14 days in the month of March.

RBI has released the list of Bank Holidays (Bank Holidays March 2024) at the national level.

Apart from Mahashivratri and Holi, it also includes various festival holidays, Saturday and Sunday holidays in other states.

It is important to know when the bank holidays are going to be in the month of March.

Before going to the bank, definitely check the list of bank holidays, because when there are bank holidays, you will not be able to do any work related to banking during this period.

Changes in GST Rules

From March 1, businesses with turnover above Rs 5 crore will not be able to issue e-way bills for all B2B transactions without including e-invoice details.

Under the Goods and Services Tax regime, e-way bill is required for inter-state transportation of goods worth more than Rs 50,000.

The deadline to ban Paytm Payments Bank is March 15.

The Reserve Bank of India has extended the deadline for the ban imposed in view of the action on Paytm Payments Bank Limited (RBI Ban On Paytm Payments Bank) to March 15.

Along with this, RBI has advised Paytm (Paytm Crisis) customers and merchants to transfer their Paytm bank account to other banks before this date.

Earlier, on January 31, the central bank had directed Paytm Payments Bank Limited to stop further deposits, transactions or top-up services in any customer account, prepaid instruments, wallet, Fastag and National Common Mobility Card after February 29. Was ordered to do. 

After this, retirement fund regulator Employees' Provident Fund Organization (EFFO) has also decided to stop transactions in the EPF account linked to the Paytm Payments Bank account.

This means that account holders linked to Paytm Payments Bank will no longer be able to deposit or credit EPF accounts through it. EPFO ​​in its circular has asked all field offices to allow claims in EPF accounts linked with Paytm Payments Bank accounts from 23 February 2024. An order has been given to stop the settlement.

Possibility of extending the deadline for updating FASTag KYC

The National Highway Authority of India (NHAI) had announced that under the 'One Vehicle One FASTag' initiative, FASTags without KYC will be blacklisted or deactivated.

NHAI had extended the deadline to implement the One Vehicle – One FASTag initiative and update KYC for its FASTag (FASTag KYC Update Deadline) till 29 February 2024.

However, there is news that in view of the problems faced by Paytm FASTag users, it is proposed to extend its deadline till the end of March.

NHAI had earlier talked about implementing the 'One Vehicle, One Fastag' initiative from March 1.