Digital Desk: Many changes are expected to occur in the new year 2022 amidst the Corona epidemic. These will directly affect the pockets of the common man. Shoes and slippers will see an increase in their prices due to changes in the GST.
Furthermore, using an ATM to do business has become too expensive for clients of the country. The Reserve Bank of India (RBI) has approved an increase in the fee for cash withdrawals made following a free ATM transaction. Banks charged customers Rs 20 per transaction until January 1, 2022. After free transactions, banks would be able to charge customers Rs 21 instead of Rs 20 each transaction, according to the RBI. These bank ATM regulations went into effect on January 1, 2022.
Customers will be required to pay higher fees than before. Every month, only 5 free ATM transactions will be available; however, 3 free ATM transactions will be available at other metro city banks.
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Another major change can be seen in the automobile industry. People buy cars with passion in the new year, but this time customers will find it expensive to buy a car. Many automobile companies of the country are going to increase the prices of different models of cars. The vehicles of Maruti Suzuki, Volkswagen and Volvo have become expensive from January 1, 2022. Tata Motors has increased the prices of commercial vehicles by 2.5% with effect from January 1, 2022. Toyota and Honda are also going to increase the price of their vehicles.
When reserving an auto rickshaw online, you will be charged 5% GST. Auto rickshaw bookings through app-based cab service platforms such as Ola and Uber will now be more expensive. This will have a direct impact on customers' wallets. However, the exemption will continue to apply to passenger transportation services performed in auto rickshaws in offline mode.
Shoes and slippers will now be subject to a 12 percent GST instead of the previous 5%. There was a plan to raise GST on shoes and clothing, but the GST Council decided to postpone it for the time being. This was decided at a meeting of the GST Council, which was led by Union Finance Minister Nirmala Sitharaman.
New rules regarding bank lockers have come into force from today. Banks will be responsible for loss of contents of the locker due to fraud or theft. In these circumstances, the bank will have to pay 100 times the annual rent of the locker to the customer. At the same time, according to RBI, if the locker is damaged due to natural calamities, then banks will not be responsible for it.
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