The month of September is going to bring a lot of new rules with it. From Aadhaar linking, provident fund, LPG prices, filing returns under Goods and Services Tax (GST) and more. These new rules will affect a wide range of things, from bank accounts to domestic budget. These changes will definitely have an impact on the lives of the common man.
PAN-Aadhaar linking
The State Bank of India (SBI) customers must link their Permanent Account Number (PAN) with their Aadhaar by September 30. If failed then it would stop customers from having certain transactions. PAN card is mandatory to deposit Rs 50,000 or more in a single day.
LPG Cooking Gas Prices
The LPG cooking gas prices are going to increase in the month of September. On August 18, LPG price was increased by Rs 25 per cylinder s whereas it was hiked by Rs 25.50 in July.
Aadhaar-PF linking
If UAN (Universal Account Number) and Aadhaar card are not liked then your employer will not be able to credit any money to your provident fund (PF) account. To implement it, the Employees’ Provident Fund Organization (EPFO) had revised Section 142 of the Code of Social Security 2020.
GSTR-1 Filing Guidelines
From September, the Goods and Service Tax Network (GSTN) has said that Rule-59(6) of Central GST Rules for the filing of GSTR-1, will be applicable. As per the rule, any registered person who has not filed returns in Form GSTR-3B shall not be allowed to file the GSTR-1 form.
Cheque Clearance
The RBI’s Positive Pay System was aimed at clearing cheques in order to verify an issuer’s details for stopping any fraudulent acts. The system had come into effect from January 1.
Several banks have already adopted the new system, Axis Bank will implement the same from September 1 onwards.