At the start of each month, a fresh set of financial regulations comes into play. As a result, come November 1, numerous such directives, whether newly introduced or modified, will be put into action, with several directly affecting the financial aspects of the average individual.
Hence, it is of utmost importance to be well-informed about the upcoming financial regulations set to take effect from November 1. Here are some of the notable provisions:
1. Gas Price Adjustments: On a monthly basis, rates for CNG (compressed natural gas), LPG (liquefied petroleum gas), and PNG (piped natural gas) are determined and publicly disclosed for the respective month.
2. E-challan Requirements: According to the National Informatics Centre (NIC), businesses with an annual turnover of at least ₹100 crore must upload their GST challan onto the e-challan portal within the next 30 days.
3. Laptop Imports: On August 3, the government swiftly imposed restrictions on the import of seven items, including laptops, personal computers (PCs), and tablets classified under HSN 8741. However, the enforcement of these restrictions was deferred until October 31, which is today. Unless further policy alterations are introduced, obtaining clearance for these seven items will mandate a valid ‘License for Restricted Imports.’
4. Reinstating Expired LIC Policies: The deadline for reactivating a lapsed LIC policy is October 31.
5. Transaction Fee Adjustments: The Bombay Stock Exchange (BSE) has announced an increase in charges for transactions conducted in the equity derivative segment on October 20.