Rules Changing 1st May: These four big changes are going to happen from May 1, know how much will affect your pocket

Rules Changing 1st May 2023: At the beginning of every month there are changes in some rules which can affect your life. Some of these changes will also affect the public's pocket. Some such changes are going to happen in May which will directly affect your pocket. In these changes from date one, mutual fund KYC, GST rules and gas cylinder prices are going to change. The government may announce new rules every month which can have a direct impact on your daily life. These may include new tax policies, housing regulations, trade policies, etc. Know about the changes that may affect your pocket and budget in May.

KYC has been made mandatory in mutual funds from May 1. Mutual fund companies have been told by SEBI that investors should invest in mutual funds only through e-KYC e-wallets with KYC. This rule is going to be implemented from May 1 itself. After this change, investors will be able to invest only through e-wallets with KYC.

The prices of LPG, CNG and PNG are initially fixed by the government on the first of every month. In the last month i.e. March, the commercial cylinder had become cheaper by Rs 91.50. After this deduction, the price of the commercial cylinders had gone up to Rs 2,028. However, there was no reduction in the price of domestic cylinders during this period.

There is going to be a big change in GST for businessmen from the beginning of May. As per the new change, it is now mandatory for companies with turnover of more than Rs 100 crore to upload the receipt of the transaction on the invoice registration portal within 7 days. At present there is no limit on the date of generation and uploading of invoices.

There is big news for the customers of Punjab National Bank (PNB). Now the rules have been changed for doing transactions from ATMs. Now if you do a transaction from PNB ATM and you do not have enough money in your account and your transaction fails, then Rs 10 and GST will be imposed on you by the bank.