Not just GST, July 1 has brought many more changes. List hereBesides implementation of the GST, many more changes have come into effect today which will affect our day-to-day lives.
July 1, 2017 will go down in history as the day when India implemented Goods and Services Tax (GST), ending over a dozen taxes collected by the central and state governments. The GST has overhauled the entire taxation system which will change the way businesses operate in the country. For consumers, the new tax regime has changed the price of hundreds of items. However, when the nation was focused on the GST, many more things will change for 1.3 billion Indians from today which will affect their day-to-day life.
Here we have compiled a list of changes that came into effect today, July 1, 2017:
Aadhaar mandatory for filing of I-T return
From July 1, 2017 onwards every person eligible to obtain Aadhaar must quote their Aadhaar number or their Aadhaar enrolment ID number for filing of income tax returns as well as for applications for PAN.
Linking of Aadhaar with PAN
The government has made it mandatory to link existing Aadhaar numbers with PAN of taxpayers with effect from July 1. There are over 25 crore PAN card holders in the country while Aadhaar has been issued to 111 crore people.
No new PAN card without Aadhaar
Aadhaar has been made mandatory for applying for Permanent Account Number (PAN). While Aadhaar is a biometric authentication issued by the UIDAI, PAN is a 10-digit alphanumeric number alloted by the I-T department to individuals and entities.
Linking of PF account with Aadhaar
The Employees' Provident Fund Organisation (EPFO) has made it compulsory to link PF account with Aadhaar by June 30.
Paperless railway tickets
Tickets for premium trains like Rajdhani and Shatabdi will not be issued on paper but will be sent directly to your mobile.
No concession on railway tickets without Aadhaar
The Indian Railways will not provide any type of concession in train tickets without a valid Aadhaar number.
No departure form on airports
Indians flying abroad will not need to fill out departure forms from today.
No scholarships for schools and colleges without Aadhaar
To stop the leakage of scholarships, the HRD Ministry has made it mandatory to provide Aadhaar details for students who want to avail monetary assistance.
No PDS benefit without Aadhaar
âAll beneficiaries of Public distribution system (PDS) are required to provide Aadhaar details to get benefits.