Changes in rules that will come into force from tomorrow

October 31, 2022 Hot from the Oven Valli Sarvani No comments

Indian Railways announced a new timetable from November 1 for many trains. Besides, many other changes also come into force from tomorrow.

As per reports, the timings of 13,000 passenger trains and 7,000 goods trains will change from November 1. In addition, the timings of 30 Rajdhani trains will also change from tomorrow.

The Insurance Regulatory and Development Authority of India (IRDAI) has made KYC mandatory to buy non-life insurance policies. Till now, KYC was mandatory for only life insurance. For non-life insurance, it was mandatory for insurance claims exceeding one lakh rupees. But now, IRDAI has made KYC mandatory for all insurance claims from November 1.

From tomorrow, consumers of LPG gas cylinders will have to tell the OTP they have received on their registered mobiles to get their cylinders. As petroleum companies revise the prices of LPG gas cylinders on the first of every month, they will be revised on November 1. The price of both domestic and commercial gas will be revised. Earlier in October, companies reduced the price of the commercial gas cylinder by ₹25.5. But, now, it is likely that companies will increase the price of gas cylinders due to the rise in gas prices in the global market.

Now taxpayers will have to provide a four-digit HSN code in the GST return. This rule applies to taxpayers whose turnover is below ₹5 crores. Earlier, they had to enter a two-digit HSN code. A four-digit HSN code was mandatory for taxpayers with a turnover of more than ₹5 crores till now. The rule was effective from April 1, 2022.

The new rule of electricity subsidy will be effective from November 1 in Delhi. Those who want a subsidy need to apply before October 31 to get it for the same month. If they do not apply, they have to pay a non-subsidised bill for October.

Image Credit: UY Scuti, CC BY-SA 3.0, via Wikimedia Commons