RBI's new guidelines for credit and debit card companies will come into effect on October 1; Centre has said maintenance of vehicular documents, including driving licences and e-challans, will also be done online from tomorrow
A lot of rules are all set to change from tomorrow i.e. October 1. From Motor Vehicles rules to debit/credit card rules and Ujjawala scheme to rules for sweet shops -- many of these new norms may concern you. So it's important to know these changes beforehand. Let's take a look:
1) New credit and debit card rules: RBI's new guidelines for credit and debit card companies will come into effect on October 1. Under these guidelines, all debit and credit cards must be enabled for use at ATMs or Point of Sale devices in India. To use them abroad, customers need to take prior permission from banks. Earlier, these cards could be used anywhere in the world. E-payment services of cards never used for online payment will also be disabled. People can now choose opt-in or opt-out services and spending limits on their cards. Users can also change their transaction limits via ATMs, mobile apps, net banking and IVR (Interactive Voice Response).
2) Maintenance of vehicle documents: The government has said that maintenance of vehicular documents, including driving licences and e-challans, will be done online from October 1. Vehicular documents found validated through electronic means will not be demanded in physical forms for inspection. Details of driving licences disqualified or revoked by licencing authority will be recorded and updated chronologically in the portal. Use of IT services and electronic monitoring will result in better enforcement of traffic rules in the country.
3) No distraction while driving: As per the amendments made in the Motor Vehicle Rules, 1989, people will now be able to use the mobile app for route navigation without losing concentration. Mobile phones can only be used for route navigation. Those talking over phone while driving will be fined Rs 1,000-Rs 5,000.
4) Pay 5% tax at source on foreign remittances: Government will levy 5 per cent tax on foreign remittances, subject to riders, starting October 1. While foreign tour packages will attract a tax-collected-at source (TCS) of 5 per cent for any amount, other remittances will only be taxed if the amount is more than Rs 7 lakh. TCS will be levied if tax has not already been deducted at source (TDS) on the amount. Similarly, remittances for education-related expenses, which are funded by loans will attract a TCS of 0.5 per cent for an amount of more than Rs 7 lakh, according to the Finance Act 2020.
5) Shops must display 'best before date' for sweets: Food regulator FSSAI has made it mandatory for food business operators to display 'best before date' of non-packaged sweets with effect from October 1 as part of its efforts to ensure safe safety. The food business operators (FBOs) might also display the date of manufacturing voluntarily, it added. An indicative list of shelf life of various types of sweets is also available on the FSSAI website.
6) No more free gas cylinders to Ujjwala beneficiaries: Finance Minister Nirmala Sitharaman had earlier announced that Ujjwala beneficiaries will get free cooking gas for three months till September 31. The scheme was initially started for three months. However, the petroleum ministry extended it by three more months till October 31. To support the poor amid coronavirus outbreak, Sitharaman announced a Rs 1.7 lakh crore Garib Kalyan Yojana.
7) TV sets to be expensive from Oct 1: Government has said that duty exemption on open cell panels, which are key components in TV sets, will attract 5 per cent duty from October 1. The Centre wants to boost domestic production capacity, and hence, it has decided not to extend exemption on the import duty.