Business news: Some major changes are set to come into effect starting March 1, 2024, that are likely to have an impact on the daily operations of the people. March will also have two long weekends, presenting an opportunity for the travellers to hit the road on trips, thus providing a cue for FASTag update. There are several bank holidays in March, besides stock market holidays. March 31 would mark the closing date for financial year 2023-24.
Let’s take a look at key changes taking place from March 1, 2024
GST rule change
Those businesses whose turnover surpasses Rs 5 crore mark will have to include e-invoice details for all business-to-business transactions, starting March 1.
FASTag deactivation
Such FASTags whose KYC has not been done until February 1, 2024, will be deactivated starting March 1. The deadline was earlier extended by NHAI from January 31, 2024, as part of a move ensuring “One Vehicle, One Fastag”.
Paytm Payments Bank last date
The Reserve Bank of India had extended the deadline for Paytm Payments Bank and its operational ban on its services to March 15, 2024. Once the deadline is over, the Paytm Payments Bank users will not be able to add money or make a transaction using the Paytm wallet. The users may however still be allowed to withdraw their existing money.
SBI credit card bill calculation
The SBI credit card is changing its rule for minimum day bill calculation starting March 15, according to the company’s website. The information regarding the same have already been communicated to the users in advance.
Geo-tagging of MCD property
Starting March 1, 2024, owners of properties will be unable to avail of a 10 per cent discount on property tax in the national capital if they do not geo-tag their properties via the MCD Unified Mobile App.
Bank holidays in March
Banks will be shut on 14 days in March, including March 8 (Mahashivratri), March 25 (Holi), and March 29 (Good Friday).
Stock Market Holidays
Stock markets will be closed on the three said dates above.
ALSO READ | Indian ultra-rich individuals projected to rise 50 per cent by 2028: Knight Frank Wealth Report
