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.
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.