Major Changes other than Goods Services Tax (GST) impacting our world from 1st July 2017
Government of India has decided to get Goods Services Tax (GST) implemented from July 1st, 2017.
Here are the major changes that are coming into effect on July 1 other than Goods Services Tax (GST):
- No filing of I-T return without Aadhaar
Government of India has now made it mandatory to mention Aadhaar for filing of income tax return.
- Linking of Aadhaar with PAN made mandatory
Government of India has also made it mandatory to link Aadhaar with PAN in order to stop people using multiple PANs to avoid taxes.
- No PAN card without Aadhaar
Aadhaar has been made must for getting new PAN.
- No passport without Aadhaar card
Ministry of External Affairs (MEA) has mentioned Aadhaar card as one of the mandatory documents for applying for a passport. So no passport without Aadhaar from July 1.
- Aadhaar-PAN linking made mandatory from July 1
- Linking PF account with Aadhaar
Employees’ Provident Fund Organisation (EPFO) has made it mandatory to link PF account with Aadhaar.
- No concession on railway tickets
In order to plug misuse and leakages, Indian Railways have made it mandatory to quote Aadhaar from July 1 to avail discounts and concessions on railway tickets.
- Scholarships for schools and colleges
HRD ministry has also notified that school & college going students, who either want to get government scholarship or are already availing it, should furnish Aadhaar details.
- No PDS benefit without Aadhaar
Public distribution related benefits have been linked to Aadhaar. So individuals will have to link Aadhaar with ration cards before July 1 to get all the PDS subsidy benefits.
- No departure form for flyers from July 1
Indians flying abroad will not be required to fill departure cards from July 1. This move is aimed at ensuring hassle-free movement and reducing the time required to complete overall immigration formalities.
- New curriculum for CA
Prime Minister Narendra Modi will be launching on July 1 a new syllabus for chartered accountants. The new syllabus will be in accordance with the International education standards of the International Federation of Accountants and it also includes new taxation system, Goods Services Tax (GST).
- Online visitor visa for Indians flying to Australia
Australian government has declared that Indian visitors can now apply for a visitor’s visa online from July 1 onward. This online visa facility is desired to speed up the approval process.
For more articles on Finance related information, please visit our Finance Section.