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GST rule change, FASTag deactivation among key financial changes in March 2024 | Check list

The month of March will bring about various key financial changes, impacting the lives of the people. From Paytm Payments Bank to FASTag deactivation, there are several services which will undergo changes in March 2024.

Edited By: Ashesh Mallick @asheshmallick07 New Delhi Published on: February 29, 2024 17:01 IST
Business news, financial changes in March, FASTag deactivation, Paytm Payments Bank, Bank holidays
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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.

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