The month of April is coming to an end soon. Several new financial regulations will be modified or eliminated beginning on May 1. Your financial well-being is directly affected by these modifications. As a result, it’s critical to be aware of these changes or face difficulties. The following are a few new rules that will take effect on May 1.
The GST rule is the most significant rule change.
The new rule requires businesses with a turnover of more than Rs 100 crore to upload their transaction receipts within seven days on the invoice registration portal (IRP).
The number of times an invoice can be registered is currently unlimited.
Market regulator Sebi has asked mutual fund companies to ensure that they accept funds from e-wallets whose KYC has been completed in another rule change.
This means that you won’t be able to invest using your wallet if it doesn’t have KYC.
On May 1, this rule will go into effect.
The Central government changes LPG, CNG and PNG’s rates consistently. The cost of commercial cylinders was reduced to Rs 91.50 last month. In Delhi, the cost of a business chamber was Rs 2028. On May 1, prices may be altered by the government.
The most recent modification is crucial. If a PNB customer’s ATM transaction fails due to a lack of funds, they will be charged Rs 10 plus GST.
