December 26, 2024: As 2024 draws to a close, the new year brings with it a host of significant changes set to impact individuals, businesses, and travelers across the country. These rule changes, effective from January 1, 2025, cover a wide array of sectors, including GST compliance, mobile data charges, visa regulations, and more. As the calendar turns, here’s a look at some of the key updates that will affect your finances and planning.
Starting January 1, businesses in India will see key changes in GST compliance. One of the major updates is the mandatory implementation of Multi-Factor Authentication (MFA) for all taxpayers. This new requirement aims to strengthen security on GST portals, requiring businesses to update mobile numbers for OTPs, train employees, and ensure IT systems are ready. Another significant change involves the E-Way Bill system, where businesses will only be able to generate EWBs for documents not older than 180 days. Companies will need to align invoicing and logistics with this new rule, automate reminders for EWB generation, and coordinate with supply chain teams to avoid any disruptions.
For those planning to visit Thailand, the country is launching an expanded e-visa system from January 1, 2025. Previously, only travelers from select regions could apply for the e-visa online, but the new system opens up the process to citizens of all countries. This will simplify the visa application process, especially for Indian tourists, who frequent Thailand for vacations. The move is expected to make international travel to Thailand more accessible and efficient.
Indian travelers heading to the United States will also benefit from new visa rules set to take effect on January 1, 2025. The US Embassy in India will now allow non-immigrant visa applicants to reschedule their appointments once without additional fees, easing the burden for many. However, the long wait times for B1/B2 visas remain a challenge, with some applicants facing waits of over 400 days. Additionally, starting January 17, 2025, new rules for the H-1B visa process will provide more flexibility for employers and smoother transitions for Indian F-1 visa holders.
In the corporate world, ITC Hotels will officially demerge from the larger ITC conglomerate on January 1, 2025. This move, once all regulatory approvals are in place, will mark a significant shift for the company as it separates its hospitality business into a standalone entity.
Telecommunications users in India should also brace for changes, particularly with mobile services. From January 1, 2025, the Department of Telecommunications’ new Right of Way (RoW) rules will regulate the construction and maintenance of underground communication facilities on public property. This move is expected to improve mobile tower installations for telecom giants such as Jio, Airtel, Vodafone, and BSNL, potentially boosting service quality.
Lastly, WhatsApp users with older Android phones will need to upgrade their devices by January 1, 2025, as the app will no longer support certain models. Affected phones include older Samsung, HTC, Sony, LG, and Motorola models, such as the Samsung Galaxy S3, HTC One X, and Sony Xperia Z. Users with these devices are urged to back up their data before the deadline to avoid losing any important chats or media.
As the new year approaches, these changes will require individuals and businesses to adjust their plans and stay informed to navigate the evolving landscape.