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New rules to come into effect from June 1, 2023

New rules effect from June 1, 2023

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Get ready for some changes! Starting June 1, India will implement new rules that will affect various aspects of daily life. From travel to social media, this article covers everything you need to know about the upcoming changes.

India is a country of diverse cultures, languages, and religions. It is also a country with many laws and regulations that govern various aspects of life and society. Some of these laws and regulations are updated or changed from time to time to reflect the changing needs and circumstances of the country and its people.

From June 1, 2023, some new rules will come into effect in India that will affect different sectors and domains. Here is a summary of some of the major new rules that you should know about:

GST rates: The Goods and Services Tax (GST) rates for some items and services will be revised from June 1. For example, the GST rate for electric vehicles will be reduced from 12% to 5%, while the GST rate for mobile phones will be increased from 12% to 18%. The GST Council has also decided to waive the late fee for filing GST returns for the months of March, April, and May 2023.

Income tax: The income tax return filing deadline for the financial year 2022-23 has been extended from July 31 to September 30, 2023. This is due to the disruptions caused by the second wave of the COVID-19 pandemic. The Central Board of Direct Taxes (CBDT) has also notified some changes in the income tax forms and rules for the assessment year 2023-24. For example, taxpayers will have to disclose their dividend income, interest income from post office savings accounts, and cash deposits above Rs. 1 lakh in a financial year.

Aadhaar-PAN linking: The deadline for linking Aadhaar with PAN has been extended from March 31 to June 30, 2023. This is the tenth time that the deadline has been extended since it was first announced in 2017. Aadhaar is a unique identification number issued by the government, while PAN is a permanent account number used for tax purposes. Linking Aadhaar with PAN is mandatory for filing income tax returns and availing various government subsidies and benefits.

Passport rules: The Ministry of External Affairs (MEA) has announced some changes in the passport rules that will come into effect from June 1. For example, applicants will no longer need to submit their birth certificates as proof of date of birth. They can submit any one of the following documents instead: an Aadhaar card, PAN card, driving license, voter ID card, or school leaving certificate. The MEA has also simplified the process of reissuing passports for minor children and senior citizens.

Vehicle registration: The Ministry of Road Transport and Highways (MoRTH) has issued a notification that all new vehicles sold from June 1 will have to be registered through a centralised online portal called VAHAN. This will eliminate the need for physical visits to the regional transport offices (RTOs) and speed up the registration process. The VAHAN portal will also enable vehicle owners to access various services such as transfer of ownership, change of address, renewal of registration, etc.

These are some of the new rules that will come into effect from June 1 in India. They are aimed at simplifying procedures, reducing costs, improving compliance, and enhancing convenience for the citizens. It is important to be aware of these new rules and follow them accordingly.

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