Rule Change: From GST to debit card, these government rules will change from October 1, there will be a direct impact on the pocket

Only a few hours are left for the month of October to start. At the beginning of every month there are some changes, that have a direct impact on our pockets. In this, rules like TCS, special FD, new debit cards, and GST on online gaming are changing. Let us know.

A new rule has been made by the government regarding Tax Collection at Source i.e. TCS, which is coming into effect from October 1, 2023. After the implementation of this rule, if you travel abroad more than a limit or invest in foreign shares, mutual funds, etc., then you will have to pay TCS.

Under RBI's LRS, a person can send 2.50 lakh dollars abroad in a financial year. From October 1, 2023, you will have to pay 20 percent TCS on money sent more than Rs 7 lakh.

According to the new rule of the Reserve Bank of India, now a person taking a debit and credit card can choose from its card networks like Rupay, Visa MasterCard, etc. Earlier, it was decided by the bank or financial institution itself which network card would be given to the user.

The deadline for We Care FD, a special FD scheme run by SBI for senior citizens, is 30th September. From October 1, you will not be able to invest in high-interest FDs of SBI.

28 percent GST on online gaming will start being imposed from October 1. Approval for this has been received from the Parliament. Along with online gaming, horse racing and casinos will also attract GST at the same rate.

RBI has fixed September 30 as the date for changing the Rs 2000 note. After this, you will not be able to exchange Rs 2000 notes.

A circular was issued by the National Automated Clearing House (NACH) on August 18. In this, the maximum period for SIP has been fixed at 30 years. This rule is coming into effect from October 1st.