Rule Change 2023: From tomorrow these rules will change in a decade, read here to know more...

Today is the last day of the year 2022 and from tomorrow 2023 will start as soon as the new year begins, these rules will change across the country. Some changes will give you relief while some will make your pocket lose. Let's know the whole news

1. Banks' responsibility will be fixed on the loss of goods kept in the bank locker

Reserve Bank of India has issued new instructions related to bank lockers. These rules will come into force from 1 January 2023. After these rules come into force, banks will no longer be able to do arbitrary with customers on the issue of lockers. After the implementation of these rules, if there is any damage to the goods kept in the bank locker, then the responsibility of the bank will be fixed for this. An agreement will be signed between the bank and the customer. It will be valid till 31 December. Banks will have to give all the information about the change in locker-related rules to the customers through MMS and other means.

2. Rules related to credit card reward points will change

From January 1, 2023, there will be a change in the rules for those using credit cards. This change is related to the reward points earned on payment through credit cards. From the beginning of the new year, HDFC Bank is going to change the reward points received on its credit card payments. In such a situation, customers have been advised to pay all the remaining reward points on their credit cards before 31 December 2022. Reward point facilities will be provided under the new rules from 1 January 2023.

3. Changes in the prices of petrol-diesel and LPG

At the beginning of every month, petroleum companies fix the rates of petrol and diesel. The prices of petrol and diesel have remained stable in the country for some time now. In such a situation, on the last day of December, when the oil companies will re-fix the prices of petrol and diesel, a decision can be taken to make some changes in their prices. However, whether these changes will happen or not, will be clear only on the morning of January 1st. Along with the prices of petrol and diesel, a change in the prices of domestic and commercial LPG cylinders may also be announced.

4. Change in CNG-PNG prices

Along with the change in the prices of petrol and diesel, there may also be a change in the prices of CNG used in vehicles and PNG gas used in household kitchens. In the recent past, there has been a big increase in the prices of CNG and PNG in the national capital and its surrounding areas such as Noida, Ghaziabad, Gurugram, and Faridabad. In such a situation, by the end of this month, gas companies can revise their prices once again. There is a difference of about eight rupees in CNG prices in Delhi and Gurugram. In the last year, the price of CNG has increased by more than 70% in the national capital and its surrounding areas. On the other hand, in October, IGL increased the rate of piped natural gas (PNG) for domestic cooking to Rs 53.59 per standard cubic meter from Rs 50.59 per SCM in Delhi. This was the 10th increase in PNG rates since August 2021. During that time the prices increased by Rs 29.93 per SCM or about 91 percent.

5. Buying vehicles will be expensive

Buying new vehicles in New Year 2023 can be expensive. Major automobile companies including MG Motor, Maruti Suzuki, Hyundai Motors, Honda, Tata Motors, Renault, Audi, and Mercedes-Benz have announced an increase in the prices of their vehicles. The country's leading company Tata Motors has said that it will increase the prices of its commercial vehicles from January 2, 2023. Honda has also announced that it will increase the prices of its vehicles by up to Rs 30,000. In such a situation, if you are planning to buy a new vehicle in the new year, then it may prove to be costlier for you than the present one.

6. Rules related to e-invoicing of GST will change

There will also be important changes in the rules related to GST e-invoicing and electronic bill in the new year. The government has reduced the threshold limit for GST e-invoicing from Rs 20 crore to Rs 5 crore. These changes in GST rules will be applicable from January 1, 2023. In such a situation, it will now be necessary for traders whose turnover is five crore rupees or more to generate electronic bills.

7. If not linked to Aadhaar, PAN card will be inactive from April 1, 2023

The Income Tax Department on Saturday issued an advisory that those PANs (Permanent Account Numbers) not linked with Aadhaar by the end of March next year will be deactivated. However, it is a matter of relief that this change will be applicable from the first date of April instead of January. The Income Tax Department said in a public consultation, “Linking of PAN with Aadhaar is mandatory, it is necessary. Don't delay, link it today!” As per the Income Tax Act, 1961, it is mandatory for all PAN holders, who do not fall in the exempted category, to link their PAN with their Aadhaar before March 31, 2023. Unlinking PAN from Aadhaar will become inactive from 1 April 2023.