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Hi Folks
As my alma mater, the Institute of Company Secretaries of India hits half a century (1968 to 2018), I thought it is worthwhile sharing the following 10 commandments with our members and students, both young and not-so-young to be successful in the challenging times that we are witnessing :

  1.  Do it right the first time
  2.  Be diligent & accountable
  3.  Earn management / client & co-workers’ confidence
  4.  Don’t become redundant (lack of knowledge updation)
  5.  Become redundant (create space to delegate and take up new work)
  6.  Read legal & business newspapers & journals. Understand company’s / client’s business
  7.  Learn to strike a meaningful conversation with clients, co-workers and associates
  8.  Become a multi-tasker
  9.  Take ownership for correct and timely delivery
  10.  Finally enjoy the work. Have Fun.
While I can dedicate a separate editorial for each of the above and may be add more also, let me share my experience about Customer Connect from 3 different scenarios which are equally relevant for our profession also.
✤  Basavaraju was the affable, courteous customer-support executive from Printo who came up with a beautifully designed picture collage for our office reunion a few weeks back. Annoyingly picky as we women are, he spent several hours with us fitting in as many pictures as possible in as creative a manner as he could. He not only worked beyond his normal working hours but also got back home and recreated several options for us so that we are happy and satisfied. I thought he went beyond the call of duty to do this for us. And, most importantly he did it ungrudgingly and with a smile on his face without rushing into completion. I sensed his genuine customer care and gave him a high rating.
✤  Ancita was the knowledgeable, confident and insightful young sales manager at the upmarket watch store, taking us on a journey of variety of watches. She allowed us to discover what was best for us without being pushy or championing any particular brand or making us feel small that we discarded a high-end one. She had deep product knowledge as well as an insight into what suited us the best. Not to mention her disarming smile and gentle but firm demeanour. She connected so well that I couldn’t step out of the store without buying. Gave her a high rating as well.

✤  Roopa, of course is our friendly, approachable family jeweller who single-handedly runs a jewellery store attending to the demands of many customers all at once. Never once in the last 20 years have I seen her getting anxious or upset with any of the customers. Such is the comfort and confidence she displays that we are willing to wait for her attention and get the right kind of advice. Mind you, selling gold jewellery to women of all ages in a highly competitive locality where there are multiple high-end branded showrooms is not a joke. She multi-tasks with élan, poise and grace. Always wearing a welcoming smile. Being a business owner, she doesn’t ask for my rating. But she is high on my list always.
3 different products. 3 different people. But the same experience – customer delight thanks to customer connect. At Samhita, we strive to keep the connect through various elements of wise thoughts, pictures, dates, regulatory updates and insights. This 195th issue is a light one. Do read.
Who knows what the next fortnight has in store for us ? there could be a deluge of changes. For any previous issues of Samhita and the readers feedback, please visit https://sharadasc.com/resource-center/.

Happy Reading

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The MCA has extended the due date for filing the e – Form DIR-3 KYC for all DIN holders to 15th September, 2018. Filing of DIR-3 KYC from 16th September, 2018 will be charged with a fee of Rs. 5000.
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Form GSTR 3B for the months of July 2018 and August 2018, for registered persons in the State of Kerala, Kodagu District and Mahe in the Union Territory of Puducherry shall be furnished electronically through the common portal, on or before the 5th October, 2018 and 10th October, 2018 respectively.
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➢ Due dates for filing quarterly Form GSTR-1 for taxpayers registered in Kerala, Mahe (Puducherry) and Kodagu (Karnataka) with turnover up to Rs. 1.5 crores for the quarter July, 2018 to September, 2018 has been extended and is required to be filed on or before 15th November, 2018.


➢ Due dates for filing monthly Form GSTR-1 for taxpayers registered in Kerala, Mahe (Puducherry) and Kodagu (Karnataka) with turnover exceeding Rs. 1.5 crores for the months from July, 2018 and August, 2018 has been extended and is required to be filed on or before 5th October, 2018 and 10th October, 2018 respectively.

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CBIC (Central Board of Indirect Taxes and Customs) has issued clarification regarding removal of restriction on refund of accumulated ITC on fabrics on the following issues : Whether notification pertaining to Central Tax (Rate) seeks to lapse all the input tax credit lying unutilized after payment of tax up to the month of July, 2018? (2) Whether unutilized ITC in respect of services and capital goods shall also be disallowed? (3) Implication to fabrics like cotton and silk where there was no inverted duty structure? (4) Whether accumulated ITC in respect of exports shall also be made to lapse? Please refer to notification for explanation.
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It is clarified that freight, telecommunication charges, insurance expenses, expenses incurred in foreign exchange for providing technical services outside India and such other charges / expenses are to be excluded both from ‘export turnover’ and “total turnover”, while working out deduction admissible under section 10A of the Act to the extent they are attributable to the delivery of articles or things or computer software outside India.
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It has been decided by the CBDT that reporting under the proposed clause 30C and proposed clause 44 of the Tax Audit Report shall be kept in abeyance till 31st March, 2019. Therefore, for Tax Audit Reports to be furnished on or after 20th August, 2018 but before 1st April, 2019, the tax auditors will not be required to furnish details called for under the said clauses of the Tax Audit Report.
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The fledgling Insolvency and Bankruptcy Code which is just about 2 years old is already amended for the 2nd time and notified as IBC (Second Amendment) Act, 2018, effective from 17th August, 2018. The Code has already undergone several changes during this period by way of rules, notifications and clarifications.

IBC (Second Amendment) Act, 2018 addresses issues relating to drafting errors and inconsistencies, removal of operational difficulties and relaxing certain thresholds for an efficient resolution process.

Note: The contents of this Newsletter are only a summary and has not dealt with any issue in detail. Any action taken or proposed to be taken must be in consultation with professionals and not merely based on the articles / news updates. S. C. Sharada & Associates disclaims all liability on action taken without professional advice.
 


S. C. Sharada & Associates, Company Secretaries. #405, 7th Cross, IV Block, Koramangala, Bangalore – 560 034
sharadasc.com Phone : +91 80 25534374 , +91 80 25536618 Email: [email protected]

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