Several new regulations are coming into effect from March 2024, impacting various aspects of financial and business operations. Key changes include revised GST e-way bill requirements for businesses with turnovers over ₹5 crore, numerous bank holidays throughout the month, and the mandatory FASTag KYC verification deadline. Additionally, State Bank of India credit card holders will see changes in their minimum day bill calculation, and Paytm Payments Bank customers will be affected by RBI directives.
As March ushers in the final stretch of the financial year, several new regulations and adjustments are set to impact individuals and businesses across the board.
From GST amendments to alterations in banking operations and digital payment services, heres a comprehensive overview of whats to come
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FAQ :
From March 1st, businesses with turnovers exceeding ₹5 crore must include e-invoice details for all B2B transactions when generating e-way bills for inter-state goods transportation over ₹50,000.
There are 12 designated bank holidays throughout March 2024, including weekends and specific Saturdays like the 9th and 23rd.
Failure to complete the mandatory FASTag KYC verification by February 29th will result in the deactivation of your FASTag from March 1st onwards.
State Bank of India credit card holders will experience changes in Minimum Day Bill Calculation procedures effective March 15th.
Following an RBI directive, Paytm Payments Bank is set for adjustments in its operations, with restrictions coming into effect post-March 15th.