The month of April will soon be over. From May 1, several new financial rules will be either changed or scrapped. These changes have a direct impact on your financial health. Hence, it is important to know about these changes, else you may have to face trouble. Here are a few rules that will be changed from May 1.
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The biggest rule change is the GST rule.
According to the new rule, companies whose turnover is over Rs 100 crore will upload their transaction receipts on invoice registration portal (IRP) within a gap of 7 days.
Currently, there is no limit for the registration of the invoice.
In Another rule change, market regulator Sebi has asked the mutual funds companies to ensure that they accept money from e-wallets whose KYC has been done.
That means if your wallet is not KYC, you will not be able to invest through it.
This rule will be implemented from May 1.
The Central government changes LPG, CNG and PNG’s rates every month. Last month, the prices of commercial cylinders were slashed to Rs 91.50. In Delhi, the price of a commercial cylinder was Rs 2028. The government may change the prices on May 1.
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The last change is very important. PNB customers will be charged Rs 10 plus GST if their transaction fails on ATMs due to lack of money.
