New rules of Banking, Lottery and Fastag will be applicable from 1st March; Transactions cannot be done without KYC

There will be changes in the rules related to banking, lottery and fastag from 1 March. These changes will have a direct impact on your life. A similar 28% tax will be levied on government and private lotteries from March 1, while State Bank of India customers who do not have KYC by the end of February will not be able to transact from their account. We are telling you about 5 such changes…

1. Uniform 28% tax on lottery: A uniform 28% tax will be levied on government and private lotteries from 1 March. Currently, there is a 12% GST on lotteries operated by state governments and 28% GST on lotteries authorized by the state government. The revenue department has issued a notification in this regard. In the meeting of the GST Council held in December under the chairmanship of Finance Minister Nirmala Sitharaman, it was decided to collect GST at the same rate on all types of lotteries. The notification said that now GST will be levied on all types of lotteries at the rate of 14 per cent and the state will be able to take the same GST. This will increase the GST on lottery to 28% of the total.
2. SBI customers will not be able to do transactions through account due to non-KYC: State Bank of India (SBI) has asked its customers to complete the KYC by 28 February. If a customer does not make KYC, then the transaction (transaction) of his bank account will be stopped. Let us tell you that the Reserve Bank of India (RBI) has made KYC mandatory for all bank accounts.
3. Fastag will not be available for free from March 1: FASTag has been made mandatory on tollbooths of all the highways of the country. To save people from inconvenience, the central government has decided to distribute Fastag free of cost till February 29 from the NHAI center, toll plazas and RTO offices, petrol pumps and transport hubs. Normally a fee of Rs 100 is required to buy Fastag. As of 28 January, more than 1.4 crore Fastags have been issued under the electronic toll collection system.
4. 2 thousand notes will not be available in Indian bank ATM: From March 1, 2000 note at Indian Bank ATM ‘S will not be available. According to Indian Bank, cassettes containing 2000 notes in its ATMs will be disabled. The bank said that customers get Rs 2000. There is difficulty in exchanging banknotes at retail outlets and elsewhere. According to the bank, customers who want a Rs 2000 note can go to the branches and withdraw it. The bank will now put 200 notes in the ATM instead of the 2000 note.
5. HDFC Bank’s old version of app will not work : HDFC Bank has sent a message to its customers asking them to download the new mobile app of the bank. Mobile app with older version from February 29 will not work. The bank says that if it is not done then you will not be able to transfer money with the old version. Before this, there were many technical flaws in the mobile app, due to which the users had to face trouble in sending money.