5 Major Rules To Change From January 1, 2022

Citizens are going to witness a number of changes in the banking as well as financial industry from the New Year 2022. From GST to the price of LPG Gas cylinders, Know what are these major changes, which will come in to effect from January 1, 2022.   

To know more, we request you to kindly read the whole article as below we have mentioned five significant rules that will take effect.

Rules to change from January 1

GST Filling To Be Mandatory Or Else You’ll be Barred From Filing GSTR-1. 

Businesses that fail to file a summary return or fail to pay GST on a monthly basis would be barred from filing GSTR-1 sales returns, beginning January 1, 2022, this is according to the GST Council.

Charges for ATM Withdrawals Changed 

Customers would be charged Rs 21 per transaction on any ATM withdrawal from January 1, 2022, instead of the previous Rs 20 charge, if the monthly maximum of free transactions is exceeded. 

Major Change In Price of LPG Gas Cylinder  

Prices of LPG gas cylinders may change from the beginning of January 1, 2022, depending on the price of crude on the worldwide market. However, assuming that the price change is implemented, an official notification will be issued soon.

Customers of ICICI Bank To See Few Changes  

From January 1, 2022, The ICICI Bank will modify the Service Charge on ICICI Bank Savings Accounts.

Deposit/Withdrawal Fees Charged by India Post Payments Bank (IPPB) 

The IPPB account users will have to pay a fee of Rs 10,000 for withdrawing & depositing cash starting from January 1, 2022.