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Here are 5 rules that will change from November 1 and impact you financially.

Rule change from November 1: A few changes can likewise influence you monetarily.

From November 1, many standards including purchasing LPG cylinders to electricity subsidy will change. The principles will straightforwardly influence the everyday person. A large portion of these are intended to upgrade your comfort. Simultaneously, a few changes can likewise influence your pocket. Tell us the progressions and what will they mean for you.

  1. KYC required in insurance

Insurance controller IRDAI has made KYC required for purchasing non-life coverage contracts. Till now it was compulsory just for extra security and in case of non-disaster protection, for example, health and vehicle protection, if there should arise an occurrence of cases surpassing one lakh rupees. Be that as it may, from November 1, it will become obligatory for everybody.

  1. LPG gas cylinder cost

On the first of each and every month, oil organizations overhaul the costs of LPG gas cylinders update and issue new rates. On November 1 as well, they might update the costs of 14 kg domestic and 19 kg business gas.

On October 1, organizations discounted the cost of business gas cylinders by Rs 25.5. In any case, considering the ascent in gas costs in the global market, the costs of LPG can be expanded.

  1. LPG cylinder delivery after giving OTP

Subsequent to booking the LPG chamber, OTP will come on your enrolled mobile. You should tell OTP at the hour of conveyance of gas, really at that time you will get it.

  1. New rule of power subsidy in Delhi

From November 1, the new rule of power subsidy will be executed in Delhi. Under this, individuals who have not applied for the endowment should take care of their non-financed bills for October, yet they can apply one month from now. The last date to apply for the subsidy is October 31, 2022, to get the sponsorship for that very month.

  1. Four-digit HSN code for GST return

Changes are being made to the standards of GST returns. Presently it will be obligatory for citizens with a turnover of not as much as Rs 5 crore to compose a four-digit HSN code in the GST return. Prior, a two-digit HSN code must be placed.

Prior, it has been made compulsory for citizens with a turnover of in excess of five crores to enter a four-digit code from April 1, 2022, and afterward a six-digit code from August 1, 2022.


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