November 2023 marks the beginning of a new month, and in line with tradition, this period heralds a series of notable adjustments to the country's regulations.
On the very first day of the month, there has been a big shock with the increase in commercial LPG cylinder prices along with amendments in GST rules.
These changes, effective today, will directly impact your wallet. Let's take a look at 5 major changes:
Every first day of the month, oil marketing companies revise LPG cylinder prices. While the government provided significant relief to the general public by reducing the prices of 14-kilogram kitchen gas cylinders during the festive season, commercial gas cylinder prices have continued to rise.
This month, starting from November 1, 2023, there has been a significant increase, with prices of 19-kilogram gas cylinders going up by up to ₹103.
This hike in gas prices will impose a heavy burden on commercial users just before Diwali.
According to the Indian Oil Corporation's website, starting today, a 19-kilogram commercial LPG cylinder will be priced at ₹1,833 in the capital city of Delhi, up from the previous ₹1,731.
In other major cities, the price changes are as follows: in Mumbai, the price has increased to ₹1,785.50 from its previous rate of ₹1,684. In Kolkata, the price has risen from ₹1,839.50 to ₹1,943.00, and in Chennai, it now stands at ₹1,999.50, up from its previous rate of ₹1,898.
With the onset of November, there's another significant change, and this time it's good news for air travellers. Yes, the continuous rise in Aviation Turbine Fuel (ATF) prices has finally come to a halt.
After a series of consecutive hikes, on November 1, 2023, Oil Marketing Companies (OMCs) have reduced ATF prices by ₹1,074 per kiloliter. These lowered prices are effective from today.
Today, the third significant change is related to the Goods and Services Tax (GST). As per the National Informatics Centre, from November 1, 2023, businesses conducting transactions of ₹100 crore or more are required to upload GST challans on the e-challan portal within 30 days.
This new rule has come into effect today, impacting businesses dealing in higher transaction volumes.
The Bombay Stock Exchange (BSE), home to 30 key stock market shares, had previously announced an increase in transaction fees in the equity derivatives segment for the month of October.
This change, which went into effect on November 1, 2023, will impact stock market investors who will now have to pay additional charges on their trades starting from the first day of the month.
Starting from November 1, 2023, to combat rising pollution levels, the entry of BS-3 and BS-4 diesel buses has been prohibited in Delhi-NCR.
According to the Pollution Control Board, such diesel buses arriving from neighbouring states like Uttar Pradesh, Haryana, and Rajasthan will no longer be allowed to enter the capital city of Delhi.
Only electric, CNG, and Bharat Stage (BS-6) compliant buses will now have entry permission in Delhi. This move aims to curb the worsening air quality and reduce emissions in the region.