New Delhi: The month of May will begin in a few days. Along with the end of April, many rules are also going to change. Regulations related to battery powered vehicles, bank transactions, GST, LPG cylinder prices and stock market are included in this list.
Some of these changes will also affect public pockets.
Changes in Mutual Fund Rules
Market regulator SEBI has made major changes in the rules for mutual funds. To make it investor friendly, SEBI has asked for a new update. For this, the digital wallet used to invest in mutual funds needs to get RBI’s KYC. This rule will come into effect from May 1, 2023.
GST Rules
Many rules of GST have been changed. Businesses will be required to comply with the new rules. It is mandatory to upload any transaction receipt in the invoice registration portal within 7 days. The new rule will come into effect from May 1.
Regulations for battery powered vehicles
The central government has made major changes in the rules for battery-powered tourist vehicles. No license fee is charged from these vehicles. The new rule will come into effect from May 1. Under this, tourist vehicles running on electric, ethanol and methanol will get relief.
ATM transaction will be charged
Punjab National Bank will start the new rule from May 1. If there is no money in the account, a fee is payable while withdrawing money from the ATM. If there is insufficient balance in the account and the ATM transaction is not completed, you will be charged Rs 10 GST on the cash transaction.
Petrol, diesel, gas prices are likely to increase
State-run oil companies release new rates of petrol and diesel for gas cylinders on the first of every month. Gas prices may change again next month.
