Biggest Change Effective November 1st: Like the first day of every month, there have been numerous developments since November 1st. You’ll gain from some of these adjustments, while others will be costly.
The oil firms have reduced the cost of commercial gas cylinders by Rs 115.50 as of November 1 despite growing inflation. However, the cost of household LPG cylinders has remained the same. Since July 6, the cost of household cylinders has not changed.
In addition, the cost of aviation turbine fuel has increased due to the oil industry (ATF). The cost of airline tickets could go up in the future as a result of this government company action. The price Indian Oil Corporation (IOCL) announced on Tuesday morning increased by Rs 4842.37, bringing the price per kiloliter to Rs 120,362.64 in Delhi.
The biggest change that will take effect on November 1 is the requirement for a Time Password (OTP) for gas cylinder home delivery. OTP will be issued to the customer’s registered mobile number after the cylinder has been reserved. After informing this, the cylinder will only be delivered.
Also significantly altered from today is IRDA. On November 1, insurers were required to give KYC information. Currently, you are responsible for providing KYC when purchasing a non-life insurance policy.
Taxpayers having a turnover of under 5 crores will need to enter the 5-digit HSN code in their GST returns starting in November. Two-digit HSN codes have so far been entered. Before April 1, 2022, taxpayers with a turnover of more than 5 crores were required to have a four-digit code. The six-digit code was then made necessary starting on August 1, 2022.
The laws governing power subsidies in Delhi have changed as of November 1. People who do not register for power subsidies will not be eligible for their benefits under this. The final day to register for a subsidy was October 31, 2022. It is also anticipated that it will be extended further.
All trains’ schedules have altered as of November 1 thanks to Indian Railways. The timing of the trains will alter as a result of being on the timetable. In this situation, it’s important to double-check the entire list before leaving the house.
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