Tomorrow marks the beginning of the new year, and starting on January 1, 2025, significant changes will take place all around the nation. The middle class will be directly impacted by these changes beginning tomorrow. The price of LPG and the introduction of new regulations under the GST system are two examples of these modifications.
Starting on January 1, 2025,
the cost of LPG cylinders, both residential and commercial, may vary. Over the past few months, the cost of commercial LPG cylinders has been volatile. On the other hand, the cost of a 14 kg household cylinder remains constant. In addition, ATF’s pricing is subject to change, which could impact January airfare.
The regulations pertaining to EPFO have changed as of January 1, 2025.
The new regulations allow EPFO pensioners to take their money out of any bank in the nation. This would simplify the procedure for seniors by eliminating the need for extra verification, making pension withdrawals more convenient and straightforward.
The UPI 123Pay transaction limit
for feature phone users will rise on January 1, 2025. Let us inform you that basic phones may make online payments using UPI 123Pay. The Rs 5,000 transaction limit will be raised to Rs 10,000. After this, using UPI on feature phones to perform huge transactions would be simpler.
A significant modification to the expiration dates of the Sensex,
Sensex-50, and Bankex will take effect on January 1, 2025. These indexes’ expiration date, which was formerly on Friday, will now fall on Tuesday. In addition, contracts for quarters and half-years will henceforth terminate on the final Tuesday of the corresponding month. On Thursday, however, the Nifty 50 monthly contract will come to an end.
Businesses would have to use multi-factor authentication (MFA)
in order to access the GST portal as of January 2025. Additional authentication verification, such as an OTP, will be necessary for this extra security layer. Additionally, only documents issued within the past 180 days are eligible for the generation of E-Way Bills.
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