The Government of India plans to relax some of the ‘Goods and Services Tax’ (GST) rules from 1 November 2027. This includes new provisions on post-sale discounts. Further, the process of granting provisional refunds to businesses facing ‘inverted duty structure’ (where the tax rate on raw materials is higher than the tax rate on finished goods) will be expedited. These measures were announced earlier in the 2026-2027 budget.
Government oil companies review LPG cylinder prices at the beginning of every month. Any change in commercial LPG cylinder rates may affect restaurants, hotels and other businesses, which depend on LPG for their day-to-day operations. However, as of October 29, no official announcement has been made regarding any change in LPG prices for November 1, 2026. Consumers are advised to check the latest rates announced by their LPG distributor before booking a new cylinder.
Government pensioners are required to submit ‘Life Certificate’ every year to ensure continuity of their pension. Pensioners below the age of 80 years can deposit their ‘Life Certificate’ from 1st November, while for those aged 80 years or above, the facility is available from 1st October. Generally, the last date for depositing the certificate is 30th November every year. If the certificate is not deposited within the stipulated time frame, the payment of pension may be temporarily stopped. This moratorium will remain in effect until the required documents are deposited.
The Income Tax Department has extended the deadline for filing tax returns for taxpayers whose accounts are required to be audited. For such taxpayers, the last date for filing Income Tax Return for Assessment Year 2026-27 has been extended from 31st October to 21st November, 2026. This extension is only for categories of eligible taxpayers and not for all individuals.
The Union Cabinet has recently approved changes to increase the coverage of Disability Pension Assistance. This includes reducing the minimum disability threshold from 80% to 40% and removing the minimum age limit for eligibility. Under these approved amendments, the central assistance is proposed to be increased to Rs 375 per month for eligible beneficiaries below 80 years of age and Rs 625 per month for beneficiaries aged 80 years and above. However, revised operational guidelines have not been released yet. Therefore, it is unlikely that these changes will come into effect from November 1st. Beneficiaries should wait for official details regarding implementation.
Punjab National Bank (PNB) will implement changes in its credit card service charges from November 1. Under the new fee structure, requests to redeem reward points on eligible Visa and RuPay credit cards will incur a charge of Rs 99. On paying utility bills (such as electricity, water etc.) above Rs 50,000 in a billing cycle, a fee of 1% of the total payment amount will be charged, capped at a maximum of Rs 2,000 per transaction. The bank has also revised the cash withdrawal fees and late payment charges. Applicable GST will be charged separately. Cardholders should refer to PNB’s revised fee schedule for detailed information on charges applicable to their card.
From November 1, 2026, a separate ‘Local FASTag Pass’ (at a compensatory or concessional rate) will also be available. According to the new rules, persons residing within a radius of 20 km of a toll plaza on a national highway will be eligible to purchase an annual ‘local pass’. The annual fee for toll plazas outside municipal limits will be Rs 1,500, while for toll plazas within municipal limits the fee will be Rs 3,000.
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