Aadhaar-PF link, LPG price hike: New rules to come into effect from tomorrow
September is all set to bring major rules, which will be implemented and made mandatory from Wednesday (September 1) onwards. These changes include Aadhaar card – PAN card link, hike in LPG prices, Aadhaar card – PF linking, GSTR-1 filing guidelines and new cheque clearance system (Axis Bank).
Here’s a list of important changes that will come into effect from tomorrow
Aadhaar card–PAN card linking
The State Bank of India (SBI) has made it compulsory for its customers to link the Aadhaar card with Permanent Account Number (PAN) card by September 30, 2021. If the customer would not do so, then he/she would not be able to perform certain transactions. This link would allow the customer to deposit Rs 50,000 in one day. To link their Aadhaar and PAN card one can visit the Income Tax Department website.
Also read | RFID tags now mandatory for commercial vehicles entering Delhi
Aadhaar– PF linking
From September 1, if the employees’ Aadhaar card is not linked with the Universal Account Number (UAN), then Provident Fund (PF) would not be credited to the employees’ account. The Employees' Provident Fund Organisation (EPFO) had revised Section 142 of the Code of Social Security 2020 to implement this new change.
Hike in LPG price
The price of LPG cylinders is likely to increase in the month of September. In August, the LPG price was increased by Rs 25 per cylinder whereas it was hiked by Rs 25.50 in July.
GSTR-1 guidelines
From September 1, the Goods and Service Tax Network (GSTN) has said that Rule-59(6) of Central GST Rules for the filing of GSTR-1, will be applicable. According to the rule, if any person has not filed returns of GSTR-3B, then he/she would be allowed to fill GSTR-1 form.
Also read | Direct flight between Amritsar and Birmingham from September 3
New cheque clearance policy
Axis Bank would implement the new Positive Pay System for cheques clearance from September 1, 2021. While some other banks have adopted the system as it came into effect on January 1, 2021. The Reserve Bank of India (RBI) has notified a new Positive Pay System for clearing cheques in 2020 to verify the issuer's details for preventing bank fraud.
-PTC News
