Government plans GST ATM taxes increased inflation
Government plans GST ATM taxes increased inflation. Reserve Bank of India (RBI) announced new plans to increase charges on the usage of ATMs beyond the free limit. In metro cities, customers will have three free transactions and five free transactions in non-metro cities. Bank users will have to pay taxes on the withdrawal of cash through ATMs. Beyond the free limit users will have to pay Rupees 21 plus GST (cash) and Rupees 10 + GST (non-cash).
GST rates increased from 5 percent to 12 percent
GST rates have been increased from 5 percent to 12 percent, which will result in costlier consumer goods. Fabrics, blankets, footwear will become costlier from now on.
Link EPFO with Aadhaar
Employees in the corporate sector who have their accounts in the Employees Provident Fund Organisation ( EPFO) will have to link their accounts to Aadhaar.