Finance/ Financial Changes
Know how much extra money you are going to spend from your hand for your daily expenses! From Toll fee to GST on Food Products? Know key financial changes happening from April 1, 2025.
As the new financial year begins, several changes in taxation, banking services, and daily expenses will impact Indian Citizens.
As a normal Indian, one should know about the rising cost of planning spending beforehand.
GST plays a crucial role in daily life; one should know, it impacts not only spending but also earnings.
1. Toll Charges Hike!
Toll fees are basically collected to maintain, repair, and improve roads, highways, and bridges. The fund raised by this fee helps in construction costs and ensures better infrastructure for travelers.
The toll fee is now increased to ₹5 or ₹10 from the old charges. For example, previously if you paid ₹150 at the toll, now you will be paying ₹155 or ₹160 according to the location and type of vehicle.
To know about the toll gate fee at your particular location, you can visit the official website NHAI Toll Information System.
2. Banking Service Charges Increase
Major Bank revised its service charges, affecting transactions such as:
ATM withdrawals beyond the free limit are now increased from ₹20 to ₹25 for each transaction.
10% increase in annual fees for debit cards across various banks.
3. Increase in UPI Transaction Fees
UPI for personal transactions still remains free, but for business processing, large amounts will face new fees:
For payments exceeding ₹2000, an interchange fee of 1.1% applies.
Many payment gateways have adjusted their processing charges accordingly.
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4. Revised GST Rates
Several goods and services now attract higher GST rates:
5% increase in GST for food items like dairy products, ready-to-eat meals, and processed foods.
3% additional GST for Hotel and Restaurant bills.
To know about GST on different products, you can visit the official website- gst.gov.in.
5. Increase in Fuel Prices
Revised Fuel taxation leading to a ₹2 -₹3 per liter hike in petrol and diesel prices.
₹50 increased for the domestic use LPG cylinder.
6. Electricity Tariff Revisions
7-10% increase in electric bills for household consumers who use over 300 units per month.
12% tariff hike for commercial users.
If you feel like you have been paid extra for tolls, the National Highways Authority of India (NHAI) has released a help line number 1033 for any customer support.
For instance, NHAI has clarified that user fee collection on National Highways is governed by specific fee rules, and certain exemptions apply.
Conclusion
The new financial year is costing a little more in all the day to day expenses. Individuals and business owners should plan accordingly to adapt to the new financial changes.
Stay updated with the latest financial news and leave below in the comment what you think about the rising costs.
