Day light saving time isn't applied. It's a bit of a mess.

[TeraBit]

As you can see in these images, day light saving time started at 2am today. It is now 19:20 but QTS shows time as 18:20.
Also:

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[~] #
[~] # date
Fri Mar 24 18:20:56 IDT 2017
[~] #

Which is wrong. Not only the time, but the time zone is wrong. It is showing IST 18:20 where it should show now 19:20 IDT.

Any suggestions, aside from setting it manually?

[TeraBit]

OK, after hitting the update button on the Time tab it got sorted.
Why is that? Why didn't it update automatically?

[P3R]

Any suggestions, aside from setting it manually?

Set the time synchronization frequency (Time interval) to the lowest possible, like 1 hour. That will not only resolve this issue but will also improve the time accuracy on your NAS long term.

[TeraBit]

Correct me if I'm wrong, but those should be two separate things. The frequency you poll the NTP server and how the clock adjusts to day light saving time.
I don't think it's a good idea to hammer the server every hour. I'm running a home NAS, not a GPS satellite or nuclear power plant.

I switched it to once every 24hrs, same as my router, which, incidentally, switched automatically to day light savings time as it was supposed to.

[P3R]

Correct me if I'm wrong, but those should be two separate things. The frequency you poll the NTP server and how the clock adjusts to day light saving time.

I'm not aware of any details but in light of the NTP-related forum posts the last few hours, it seems that Qnaps only updates their time when polling the time server. Right or wrong that seems to be the way it's working right now.

I don't think it's a good idea to hammer the server every hour.

Since the server you use seems to be open for anyone within Israel I would assume that it's provisioned to handle that traffic with a healthy margin. I can assure you that you changing from 7 days to 1 day or even the 1 hour that I suggested won't be noticed at all by the server administrators. If the NTP server long-term have to much load, the staff at a national internet exchange definitely have the knowledge to solve that.

If you're still worried about "hammering the server", I would suggest that you instead use the recommended NTP pool for your country which is asia.pool.ntp.org. NTP pools are what most home users use.

I'm running a home NAS, not a GPS satellite or nuclear power plant.

I'm well aware of that. If you did, you wouldn't be using a publicly accessible stratum 2 NTP server as your time source.

[schumaku]

Once more for the records: NTP has absolute nothing in mind with time zones, with DST. NTP does work on universal time (GMT, UTZ, ...).

The local time zone is configured by the user, the DST is supposed to be changed automatically based on some internal tables and tzdata. The change is supposed to happen automatically - if it does not switch automatically, and there would be more records from Israel, something might be broken and NAP has to investigate.