From November 1, these new financial rules to kick in. Check details

On the first of each month, some new financial rules kick in. Therefore, on November 1 too, several such guidelines – whether new or updated – will come into effect; many of these have a direct bearing on a common person’s life.

Representational Image
Representational Image

It is, therefore, important to know which new financial rules will come into force starting November 1. Some of the guidelines are as follows:

Gas price: Every month, on the first day, the rates of CNG (compressed natural gas), LPG (liquefied petroleum gas) and PNG (piped natural gas) are fixed for that month, and announced.

E-challan: As per the National Informatics Centre (NIC), businesses worth at least 100 crore must upload their GST challan on the e-challan portal within the next 30 days.

Laptop import: On August 3, the government imposed immediate restrictions on import of seven items, including laptops, personal computers (PCs) and tablets under the HSN 8741 category. A day later, however, the restrictions were deferred till October 31, i.e., today.

Until a further policy change is announced, the clearance of these seven items will now require a valid ‘License for Restricted Imports.’

Reopen lapsed LIC policy: October 31 is the deadline to reopen an LIC policy that has lapsed.

Transaction fees: The Bombay Stock Exchange (BSE) will hike charges for transactions in the equity derivative segment. The BSE made an announcement in this regard on October 20.

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