5 rules to change from 1st September 2023, here’s all you need to know

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Significant changes are going to take place throughout the country from the first day of September month. Some of these changes will directly affect your purse. From LPG price drop to surge in take-home salaries, here are the six significant changes to implement from September 1, 2023.

List of Rules changing from September 1

LPG Cylinder price decline

The government made a significant decision giving relief to the common man by lowering LPG monthly prices. The new prices will come into effect from September 1, 2023. Recently, the Central Government announced a reduction of Rs 200 in the price of 14.2 kg cylinders throughout the country.

Axis Bank Credit Card

A significant update for Axis Bank’s Magnus Credit Card will take place from September 1, 2023. After these changes, Magnus Credit Card users will receive fewer reward points than before and will be able to avail less discounts on some transactions. The Axis Bank Credit card holders have to pay annual fees of Rs 12,500. However, the users who spend at least Rs 25 lakh in a year using the Magnus card will not have to pay the fees.

IPO listing days will be reduced

Security Exchange Board of India (Sebi) took a significant step in the Initial Public Offering (IPO) listing. It reduced the IPO listing from September 1, 2023. The time limit for listing shares in the stock market has been reduced to half, i.e., three days from six days. Sebi introduced the company’s stock on the stock market after the IPO concluded. This new change is voluntary from September 1, but this will become mandatory post-December 1, 2023.

Last Aadhaar Update Opportunity

Unique Identification Authority of India (UIDAI)’s free update facility to update their Aadhar information will come to an end on September 14. This is the final three-month extension from June 14 to update their Aadhar Card for free.

Salary of employees will increase

The good news for all the employed people is that the salary rules for employed people will change from the first day of September month. With the implementation of the new rules, the take-home salary of the employed person will increase. This rule will benefit those employees who have a house to live in on behalf of the employer, and there is some deduction from their salary as the Rent-Free Accommodation rules are going to change from September 1, 2023.

Rent Free Accommodation New calculation Rules for perquisite w.e.f 1 September 2023

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Pooja Gupta

CA Pooja Gupta (CA, ISA, M.com) having 15 years of experience. Educator and Digital Creator

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CA Pooja Gupta (CA, ISA, M.com) having 15 years of experience. Educator and Digital Creator

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