Every month influenced by global and domestic developments, there are effected some changes either sectorally or in the personal finance and investment space that you as a lay men needs to be acquainted with:
1. Cars/2-wheelers to become expensive: As per the recent decision, own damage cover has to be borne by the vehicle buyer and consequently with effect from September, the down payment on the car purchase shall go up by Rs. 10- Rs. 12000. In case of two-wheelers the amount shall see an increase by up to Rs. 1000. As a result the cost of insurance on a new vehicle shall increase substantially.
2. Non-filing of GSTR-3B will render you to ineligible to file GSTR-1:
In case the GST taxpayers has not filed GSTR-3 B for the preceding two months, then he shall not to be able to file outward supplies in GSTR-1 from the next month beginning September. GSTR 3 B is filed in a staggered way between 20th-24th of the consecutive month.
3. LPG price change:
LPG price is revised every month and oil retailers decide on the rate based on international pricing. In August prices were revised higher by Rs. 25 per cylinder.
4. EPF credit to be effected into your account only if UAN linked to Aadhaar:
The deadline for the above had been extended to August 31 and likewise in a case if your are not compliant to this directive, your PF credits shall not be made into your EPF linked bank account. The recent ruling is owing to the amendment of Section 142 of the Code of Social Security 2020 to implement this new rule.