New personal finance changes that will take effect from September 1, 2021:


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Expenses

oi-Roshni Agarwal

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Each month, influenced by global and national developments, changes are made, either sectoral or in the space of personal finance and investment, which you, as laity, should know about:

New personal finance changes that will take effect from September 1, 2021:

1. Cars / 2 wheels are getting expensive: According to the recent ruling, the damage coverage is to be borne by the purchaser of the vehicle and therefore from September the down payment on the purchase of the car will increase by Rs. 10- Rs. 12,000. In in the case of two-wheelers, the amount will be increased up to Rs. 1000. As a result, the cost of insuring a new vehicle will increase considerably.

2. Failure to report GSTR-3B will render you ineligible to file GSTR-1:
In the event that GST taxpayers have not filed GSTR-3 B within the previous two months, then they will not be able to report the outgoing supplies in GSTR-1 from the following month beginning in September. GSTR 3 B is deposited in installments between the 20th and the 24th of the consecutive month.

3. Modification of the LPG price:
The price of LPG is revised monthly and petroleum retailers decide the price based on international prices. In August, prices were revised upwards to Rs. 25 per cylinder.

4. EPF credit to be made on your account only if UAN linked to Aadhaar:
The deadline for the above has been extended until August 31st and likewise in the event that you fail to comply with this directive, your PF credits will not be transferred to your bank account linked to the EPF. The recent decision is due to the modification of article 142 of the 2020 Social Security Code to implement this new rule.

BonRetours.in

Article first published: Saturday August 28, 2021, 13:27 [IST]

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