A bevy of changes come into effect from September 1 - from mandatory linking of Aadhaar with Employees' Provident Fund (EPF) to hike in LPG cylinder price - affecting people from all walks of life.
Loading...
Here’s a list of major changes that take place from today:
Mandatory linking of Aadhaar-EPF
Employees’ Provident Fund Organization (EPFO), the retirement fund body, has made it mandatory to link Aadhaar Card with Universal Account Number (UAN). Defaulters will not be able to avail of the Employees' Provident Fund (EPF) services from today.
This non-linking will lead to discontinuation of the employers' contribution in the EPF account as they won't be able to file Electronic Challan cum Return (ECR) of the EPF accounts not linked with Aadhaar.
Domestic LPG cylinder price increased
The price of non-subsidised liquefied petroleum gas (LPG) cylinders has been hiked by Rs 25 per cylinder with effect from today. As a result, the price of a non-subsidised 14.2 kg cylinder in Delhi is now Rs 884.50 per cylinder.
In Mumbai, the rate of 14.2 kg LPG cylinder is now Rs 884.50. For a cooking gas cylinder in Chennai, customers will now have to pay Rs 900.50.
Non-filers of 2 monthly GST returns to be barred from filing GSTR-1
Businesses that have not filed GSTR-3B returns in the preceding two months will not be able to file details of outward supplies in GSTR-1 from today. While businesses file GSTR-1 of a particular month by the 11th day of the subsequent month, GSTR-3B, through which businesses pay taxes, is filed in a staggered manner between the 20th-24th day of the succeeding month.
In an advisory to taxpayers, GSTN, which manages the technology backbone for Goods and Services Tax, earlier said that Rule-59(6) of Central GST Rules which provides for restriction in the filing of GSTR-1, will come into effect from September 1, 2021.
Cheque clearance norms for Axis Bank
In order to check banking fraud, the Reserve Bank of India (RBI) had introduced the 'positive pay system' for cheques from January 2021, under which re-confirmation of key details may be needed for payments beyond Rs 50,000. Axis Bank is adopting this new system from today.