Now Ordering Food Online And Buying Clothes Will Be Expensive, GST Rules Will Change From January 1, 2022

GST New Rules 2022

The Goods and Services Tax System (GST) is going to undergo major changes from January 1, 2022.

New GST Rules From January 1, 2022.

The Goods and Services Tax System (GST) is set to undergo major changes from January 1, 2022. This includes taxes on e-commerce service operators, transport, and services provided in the restaurant sector. Apart from this, changes in the fee structure in the footwear and textile sector will also come into effect from January 1, 2022 (New GST rule). This will result in 12% GST on all types of footwear. While 12% GST will be levied on textile products (excluding cotton) including readymade garments.

Auto-rickshaw drivers will be exempted from transport services offered as a manual mode or offline but when these services are offered on any e-commerce platform, they will be taxed at 5 percent from the new year.

It will be expensive to order food online from January 1, 2022.

After the new change, e-commerce service providers such as food delivery platforms Swiggy and Zomato will be responsible for collecting GST and submitting it to the government instead of the restaurant services they provide. They will also have to issue a bill instead of such services. This will not impose any additional burden on the customers as the restaurants are already collecting GST revenue.

The only change is that the responsibility of tax filing and billing has now shifted to the food delivery platform. It is estimated that this burden may be passed on to consumers.

Withdrawing money from an ATM will be expensive

From next month, it will be more expensive for customers to withdraw money after the limit of free ATM transactions. In June, the Reserve Bank of India (RBI) allowed banks to increase charges for transacting at ATMs after a limit of 1 January 2022. It is worth mentioning that at present every bank offers some free transactions to their customers to withdraw money from ATMs. From now on, if the money is withdrawn from the ATM after the completion of the free transaction, the charge for it will be increased. Now you have to pay Rs 21 plus GST charge for the transaction done in addition to the free transaction.

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