{"id":24978,"date":"2021-01-27T15:09:21","date_gmt":"2021-01-27T09:39:21","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=24978"},"modified":"2021-01-27T15:09:52","modified_gmt":"2021-01-27T09:39:52","slug":"compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021\/","title":{"rendered":"Compulsory FASTag to New GST Return: Rules Got Changed from 2021"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The government of India is about to unveiled FASTag and the <a href=\"https:\/\/corpbiz.io\/gst-return-filing\"><strong>new GST Return<\/strong><\/a> System in the purview of the Digital India Initiative. These steps are expected to carry forward India\u2019s dream of full-fledged digitization. In this blog, we would explain the functionality aspect of these systems which serves several benefits along with it.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021\/#FASTag_to_Become_Mandatory_From_Feb_15_2021\" >FASTag to Become Mandatory From\nFeb 15, 2021<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021\/#Benefits_of_FASTag_System\" >Benefits of FASTag System<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021\/#%E2%80%98Positive_Pay_system_for_Cheques\" >\u2018Positive Pay\u2019 system for Cheques<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021\/#Limit_Extension_for_the_Contactless_Card_Transaction\" >Limit Extension for the Contactless\nCard Transaction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021\/#Facility_for_Quarterly_Goods_and_Services_Tax_Returns\" >Facility for Quarterly Goods and\nServices Tax Returns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021\/#Dialing_Zero_for_Connecting_to_Mobile_Calls_from_Landline\" >Dialing Zero for Connecting to Mobile\nCalls from Landline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021\/#WhatsApp_to_Break_Compatibility_from_Selected_Devices\" >WhatsApp to Break Compatibility\nfrom Selected Devices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/corpbiz.io\/learning\/compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021\/#Hike_in_Two-Wheelers_and_Car_Prices\" >Hike in\nTwo-Wheelers and Car Prices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/corpbiz.io\/learning\/compulsory-fastag-to-new-gst-return-rules-got-changed-from-2021\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FASTag_to_Become_Mandatory_From_Feb_15_2021\"><\/span>FASTag to Become Mandatory From\nFeb 15, 2021<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As per the latest report, FASTag\nwill become mandatory nationwide from February 15, 2021. The road transport\nministry has extended the deadline for FASTag applicability on four-wheelers\ntill Feb 15, 2021, compared to the previous deadline which was Jan 1.<\/p>\n\n\n\n<p>The Union <em><strong>Ministry of Road Transport &amp; Highways<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Ministry_of_Road_Transport_and_Highways\"><em><strong>[1]<\/strong><\/em><\/a><\/sup> previously issued a notification confirming the nationwide applicability of FASTag for all 4-wheeler vehicles from Jan 1, 2021. FASTag has become compulsory for M &amp;N class 4-wheelers sold before Dec 1, 2017. For this, some amendments were made by the government in the Central Motor Vehicles Rules, 1989. The ministry rolled out the notification related to this on Nov 6.&nbsp;<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/online-gst-return-filing-procedure-types-due-date-and-penalty\/\">GST Return Filing Procedure \u2013 Types of GST Returns, Due Date and Penalty<\/a><\/mark><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How does the FASTag System Work?<\/h3>\n\n\n\n<p>As the Vehicles with FASTag approaches the toll plaza, an electronic reader using radio frequency identification (RFID) technology scans the bar code and instantly deducts the toll amount. This mitigates the necessity of stopping the vehicles at the toll plaza; thus ensuring negligible traffic conjunction.&nbsp; <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_of_FASTag_System\"><\/span>Benefits of FASTag System<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/01\/Benefits-of-FASTag-System.png\" alt=\"Benefits of FASTag System\" class=\"wp-image-25007\" width=\"422\" height=\"428\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/01\/Benefits-of-FASTag-System.png 985w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/01\/Benefits-of-FASTag-System-296x300.png 296w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/01\/Benefits-of-FASTag-System-768x780.png 768w\" sizes=\"(max-width: 422px) 100vw, 422px\" \/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%80%98Positive_Pay_system_for_Cheques\"><\/span>\u2018Positive Pay\u2019 system for Cheques<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The RBI\nhas come up with the \u201cPositive Pay\u201d system for cheques from January 1, 2021.\nRe-confirmation of the mandatory details will be required for cheque payment\namounting more than Rs 50,000 under the system. The cheque\u2019s issuer has to\nrender detail such as date, cheque number, account details, etc.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Limit_Extension_for_the_Contactless_Card_Transaction\"><\/span>Limit Extension for the Contactless\nCard Transaction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Reserve\nBank of India has increased limits for contactless card payments amounting form\nRs 2000 to Rs 5000. However, user\u2019s discretion is applicable under this\nscenario.&nbsp;&nbsp; <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Facility_for_Quarterly_Goods_and_Services_Tax_Returns\"><\/span>Facility for Quarterly Goods and\nServices Tax Returns<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>More\nthan 9 millions of small businesses have come under the regime of quarterly\n(GST) return filing facility. These firms having sale up to INR 5 crore has to\nfile only four return manifesting the entire detail of the transactions in the\nnew regime rather than 12 that are filed on monthly basis.<\/p>\n\n\n\n<p>GST return system encloses\nsimplified return forms to ease out the filing procedure across GST taxpayers.\nThe new return structure would have one main return GST RET-1 &amp; 2 annexures\nsuch as GST ANX-1 and GST ANX. The taxpayers are required to file this return\non the monthly basis. However, this does not cover the small taxpayers who can\nchoose to file the return every quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dialing_Zero_for_Connecting_to_Mobile_Calls_from_Landline\"><\/span>Dialing Zero for Connecting to Mobile\nCalls from Landline<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The department of telecommunications has mandated to prefix zero for all calls made to mobile phones via fixed lines. The rule has been in effect since 15<sup>th<\/sup> of Jan, 2021. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"WhatsApp_to_Break_Compatibility_from_Selected_Devices\"><\/span>WhatsApp to Break Compatibility\nfrom Selected Devices<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>WhatsApp\nwould no longer remain compatible with some platform from Jan 1, 2021.&nbsp; The WhatsApp page consolidates the list of\ndevices that duly supports its platform.&nbsp;\nAccording to the official page, the following devices can run the\nWhatApps with ease. <\/p>\n\n\n\n<ul><li>Android running OS 4.0.3 and\nnewer; <\/li><li>iPhone running iOS 9 and newer<\/li><li>Selectives phones running via\nKaiOS 2.5.1 newer that also includes JioPhone and JioPhone 2.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hike_in_Two-Wheelers_and_Car_Prices\"><\/span>Hike in\nTwo-Wheelers and Car Prices<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>India\u2019s\nbiggest car brand Maruti Suzuki will escalate the prices of its cars from the\nmonth of January. The automobile players like MG Motor and Renault India has\nalso confirmed about the hike in price of their offering in the New Year. Renault\nIndia has assured the hike of Rs 28,000 on the selected models.<\/p>\n\n\n\n<p>Meanwhile the\ntwo-wheeler giant Hero MotoCorp&nbsp; has\nconfirmed to increase the price of its&nbsp;\noffering not less than&nbsp; INR 15,00\nfrom the month of Jan, 2021 to compensate the loss incurred by rising input\ncosts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Year\n202o has brought the massive shift in the Indian economy due to innumerable\nreasons including the Covid 19 outbreak. The aforementioned measures taken by\nthe government is in the best of interest for everyone. The decision related\nthe FASTag give the ample time to the four wheeler\u2019s owner to get registered\nwithout being enforcing to pay penalties on toll plaza, enabling the smooth\ntraffic throughout the roadways. <\/p>\n\n\n\n<p>Meanwhile, the inclusion of GST RET-1 &amp; 2 annexure such as GST ANX-1 and GST ANX-2 would expect to further simplify the filling procedure. The hike in the automobile prices is certainly not the welcome move by the manufacturer as it would enforce the masses to further delay their buying decision.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/cbic-extension-of-deadline-for-gst-return-filing-fy-2019-20\/\">CBIC: Extension of deadline for GST Return Filing FY 2019-20<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government of India is about to unveiled FASTag and the new GST Return System in the purview of the Digital India Initiative. These steps are expected to carry forward India\u2019s dream of full-fledged digitization. In this blog, we would explain the functionality aspect of these systems which serves several benefits along with it. FASTag [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":25006,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[16],"tags":[1473],"acf":{"service_id":"104"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":3864,"readingTime":3,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/24978"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=24978"}],"version-history":[{"count":10,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/24978\/revisions"}],"predecessor-version":[{"id":25010,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/24978\/revisions\/25010"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/25006"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=24978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=24978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=24978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}