10 new rules will be implemented from April 1st said by Modi Government

These 10 new rules will be implemented across the country from April 1, know that otherwise there may be a big problem



The outbreak of the Corona virus is still going on all over the world, the Corona virus has caused a furore in almost all the countries of the world, and this virus has taken the form of an epidemic.  China, Italy, Spain, America, France and the UK have caused the most deaths due to the virus.  About 1250 positives have been found in India, while around 32 people have died. In India, due to this virus, Prime Minister Honorable Narendra Modi has kept the people down, in the meantime, a new information is coming that many important rules are going to change with the start of new financial year from April 1, 2020.

Today is the last day of March.  With the start of the new fiscal year from April 1, 2020, many necessary regulations are going to change.  There are changes in 10 rules which are related to your everyday life.  Therefore, they will also directly impact you.  These include changes in the rules of merger of banks to GST returns.  So let us know what rules are going to be applicable across the country from 1st April.

These changes include changes in the rules of Internet, vehicles, banks merger and GST returns.

So let us know the new rules are going to be implemented in the country from April 1, 2020:-

1. New Income Tax Rule:

The new system of income tax will be implemented from 1 April 2020.  The special thing in the new system will be that the taxpayer will be able to get the rebate even without saving.  However, this would be a completely optional arrangement.

2. Going abroad will be expensive:

From April 1, the government will levy tax collected at source (TCS) on the total package of foreign travel.  Foreign travel may have to be paid 5% tax from the beginning of FY 2020-21.

3. Merger of 10 banks:

In the beginning of the new financial year from April 1, 2020, 10 public banks of the country will be merged to form 4 big banks.  This will be the biggest merger of the country's financial sector.  The merger was notified by the Reserve Bank of India (RBI) on March 18, which will come into force through a notification issued earlier this month.  If you have an account with these banks, then you will have to report some changes to the banks cutting your bills / installments.

4. New GST Return Form:

It was decided to bring a new GST Return Form from April 1 in the 31st meeting of the GST Council.  The new form will be much simpler and will make filing returns easier.

5. Rules related to medicines:

The government has decided to declare all medical devices as drugs from 1 April 2020.  From the new fiscal year 2020-21, under Section 3 of the Drugs and Cosmetic Act, devices used on humans and animals will also be classified as drugs.

6. New Vehicle Rules:

From April 1, only BS-6 standard vehicles will be sold in the country.  However, due to the Corona crisis, the Supreme Court has allowed BS-4 vehicles to be conditionally registered for 10 days in April.

7. BS-6 grade petrol-diesel:

BS-grade petrol and diesel supplies will start across the country from April 1, 2020.  Indian Oil has started it in many cities.  However, this may have an impact on petrol-diesel prices.

8. Using the Internet can be expensive:

Telecom companies have demanded an increase in the fee for internet data from April 1 to a minimum rate of Rs 35 / GB.  This is about 8-10 times more than the current rate.  Using the internet will be costly if the government approves.

9. Pension will be more:

From the new fiscal year 2020-21, the government has changed the Employee Pension Scheme (EPS) rules.  Under this, around 6 lakh people who retired before 26 September 2008 will get more pension from 1 April 2020.

10. Loan will be given on new benchmark:

Small and medium businesses will get loans on the new standards from April 1, 2020.  All new loans to traders at variable interest rates will be linked to external standards like repo from April 1, which will reduce the interest rate.

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