Personal Life Related Rules Changing From 1 November: Although there is some change every day, but today from 1 November many changes related to people’s personal life are going to happen. These changes will have a direct impact on the people. It will affect people’s pockets and working hours. From today the rules of KYC for insured people have changed. The rules for making GST invoice have also changed. There has also been a big change regarding the policy of LIC. Let us talk in detail about these changes that are going to happen from today…
Restart discontinued LIC policy
If you have discontinued or discontinued your LIC policy, you can restart it from today. The last date to restart the discontinued LIC policy was 31st October, but you can restart it even later. You can start a policy with assured term ranging from Rs 1 to Rs 3 lakh. For this, there will be a discount of 30 percent or Rs 3500 in late fees. On policies worth more than Rs 3 lakh, there will be a discount of 30 percent or up to Rs 4 thousand in late fees.
Now it is necessary to get KYC done for insurance
Today, from November 1, it has become mandatory to get KYC done for insurance. Insurance Regulatory Development Authority of India has made KYC mandatory for all insurance holders. This order has come into effect from today with immediate effect. This new rule will have a direct impact on the claims made by people for insurance. In the absence of KYC, the insurance company can cancel the claims related to its expenses.
GST challan uploading date changed
From today, GST challan will have to be uploaded on the portal within 30 days. According to the National Informatics Centre, this order is for those having a turnover of Rs 100 crore or more. In any case, these businessmen will have to upload the GST challan on the portal within 30 days. This decision was taken in the meeting held on September 1 and it is being implemented from November 1, which will have to be strictly followed, otherwise losses will have to be incurred. You may also have to face legal action.
Higher charges will be levied on transactions in derivatives segment
Today, from November 1, the fees for transactions on equity derivatives segment have increased. Bombay Stock Exchange has taken this decision. This change will be applicable to S&P Sensex options, but this decision will have an impact on traders, especially retail investors. There will be a negative impact as it will increase transaction costs.
