From costlier cars, GST updates to US visa fees: What’s all changing from January 1, 2025?

As the calendar flips to 2025, a slew of changes in regulations and rules impacting businesses, consumers, and the economy will come into force from January 1. From higher car prices to stricter GST compliance, here's a detailed look at what's changing in the new year.

Key changes in GST compliance

Automakers to hike prices

For car buyers, January 1 will ring in higher price tags across all major brands. Mahindra & Mahindra has announced an increase of up to 3% on its SUVs and commercial vehicles, citing rising input costs and inflation.

Hyundai Motor India will follow suit, with prices on its models going up by as much as ₹25,000.

Maruti Suzuki, the country’s largest carmaker, is planning a hike of up to 4%, while Tata Motors has also confirmed a 3% increase across its passenger vehicle portfolio, including electric vehicles.

Kia India and JSW MG Motor are not far behind, announcing similar price adjustments to offset escalating commodity and logistics costs.

Easier visa processes for Thailand and US

Travellers have reasons to cheer as Thailand is expanding its e-visa system to include applicants from all countries. Starting January 1, the streamlined online application process will make it easier for international visitors, including Indians, to secure their travel documents.

Meanwhile, the United States is set to introduce more flexible rules for visa appointments. From the new year, non-immigrant visa applicants can reschedule their appointments once without additional fees. Starting January 17, the US will also implement changes to the H-1B visa process, offering greater flexibility for employers and smoother transitions for Indian professionals on F-1 visas.

New telecom regulations

In the telecom sector, the government’s updated Right of Way (RoW) rules aim to boost infrastructure development. These new regulations will simplify the process for telecom providers to install and maintain equipment, such as mobile towers and underground cables. Authorities will be empowered to authorise temporary telecom networks for public events. The rules also introduce a “deemed permission” system for certain critical projects, aimed at bypassing bureaucratic delays and streamlining approvals.

Revised RBI rules for fixed deposits in NBFCs

The Reserve Bank of India (RBI) has introduced new guidelines for fixed deposits with Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs). Under the revised norms, depositors can withdraw small deposits of up to ₹10,000 prematurely without interest. For larger amounts, withdrawals are capped at 50% of the principal or ₹5 lakh, whichever is lower, and will also attract no interest. NBFCs must now notify depositors about FD maturities at least 14 days in advance, down from the earlier requirement of two months.

UPI limit extended for feature phones

Finally, digital payments are set to become more inclusive as the RBI doubles the transaction limit for UPI 123Pay users, allowing feature phone users to make payments of up to ₹10,000 without an internet connection. This change will be especially beneficial for rural and semi-urban areas, where feature phones remain prevalent.