Changes to several rules will come into effect from August 1
By Lokmat English Desk | Updated: July 31, 2023 14:06 IST2023-07-31T14:06:16+5:302023-07-31T14:06:16+5:30
Next 
Today is the last day of July. From the first day of August, there will be a change in many rules related to financial matters. These rules cover everything from ITR returns to GST, credit card payment rules.
Due to these changes in the month of August, the financial budget of the general public will be affected. There will be a change in the system related to GST from August 1. Along with this, the price of PNG, commercial gas is likely to change. Let's find out exactly what these changes are
According to a government announcement, businesses with a turnover of more than Rs 5 crore will be required to issue e-invoices from August 1, 2023. In such a case, traders who come under the purview of GST should prepare to prepare electronic invoices by knowing the relevant rules in detail.
31st July is the last date for filing income tax returns. After that, from August 1, those filing ITR will be penalized. Those with income above 5 lakhs should file ITR at 12 midnight. Otherwise, a fine of 1 to 5 thousand will have to be paid from tomorrow.
Banks will remain closed for 14 days in August due to Raksha Bandhan, Independence Day and various festivals. These holidays also include weekly holidays on Saturdays and Sundays. Online services of banks will continue during these 14 holidays.
Commercial cylinder prices are likely to change along with LPG in August. Oil companies change domestic gas prices on 1st and 16th of every month. Apart from that PNG, CNG rates are also changed.
Oil companies announce the price of petrol and diesel at midnight on the last day of every month. In that case, we can see a change in the price of petrol and diesel from August 1. Petrol-diesel prices in the country have been stable since May 21 last year.
If you have an Axis Bank credit card, you can have a positive impact on your pocket. According to the new rules, people who buy from Axis Bank and Flipkart will get cashback on any purchase from August 12.
The country's largest State Bank of India and IDFC Bank have given August 15, 2023 as the last date to invest in Amrit Kalash Yojana. If you want to invest in this scheme, invest money early.
