|Quote of the day
“When big things are the same, small things make a big difference.”
Wishing everyone ‘wisdom, well-being and wealth’ beyond Deepavali, that just concluded. While most of us get into a cleaning spree of homes, offices, stores and just about everything physical, don’t you think it is equally important to clean our minds and hearts as well ? To rid our ‘top floor’ of negative thoughts, self-imposed constraints, limiting beliefs, prejudices, misconceptions and fear. Emptying out or purging is as important as acquiring and accumulating. Infact more I would say. With age and so-called experience, our minds get clogged and unwanted, heavy baggage derail our life’s journey from being joyful and productive. It is essential that we rediscover ourselves, realign our goals and repurpose our lives from time to time.
In order to help our employees do this and be a better self, recently we had a beautiful personality development programme facilitated by a well known Learning Facilitator (www.srividyanagaraju.com). It was a fun-filled, action packed time spent together that threw up the following top-12 learnings (as shared by my team), presented creatively by Ms. Amritha Puranik, CS Intern:
1. Nobody thinks about you. Stop thinking what others think about you.
5. Destination and the journey, both are equally important. Enjoy both.
7. Life is not all black and white. Learn to accept the grey in between.
9. Power of visualisation is strong. Visualise first and then act. Results will follow
10. Big things being the same, small things make a big difference.
11. Seeking help is not a weakness
2. We are here to express, not to impress. Impression should be the outcome, not the objective.
3. Give yourself the permission to fail. You are not a failure as long as you don’t fail to learn from it.
4. Let’s serve with care, not with worry.
6. Convert fear into curiosity – things will become easier.
8. You are your own limitation. You are more capable than what you think. Challenge yourself
12. Care for yourself like how you care for others. Me-time is not selfishness.
The best part was that all of these came from group activities and not from a lecture session. I believe this internalisation will result in individual actions for betterment.
I really wish MCA undertakes similar learning sessions for its officials so that they introspect and stop living in a self-denial mode. The new V3 portal is again throwing tantrums leading to all corporates now having to pay Rs. 100 per day penalty for late filing of financial statements. Most Company Secretary friends are seething with anger, anguish and anxiety thanks to the technical glitches and errors of MCA, resulting in late nights and holiday-working for no fault of theirs. The story repeats year after year. Be that as it may, our monthly newsletter Samhita-281 is on time each time with its regulatory updates, statutory due dates reminder and tips on better business communication. The ‘Books-Best Buddy’ initiative features an interesting book on confidence building, recommended by an avid reader Ms. Sangeetha Flora from Salem. I am sure you will enjoy reading the book.
For any previous issues of Samhita and the readers feedback, please visit our website.
© Mike Fisher
CONFIDENCE AT THE CORE
Mike Fisher the author of the book “Confidence at the Core” is also a C-Suite advisor, organisational transformation consultant, executive coach, and leadership development architect.
I met Mike Fisher for the first time at a Leadership Coaching program, where he coached us on Executive Presence of which confidence was an integral part. So, when I heard Mike had written this book, I just had to get a copy which is only 126 pages.
The power packed chapters translate the abstract elements of confidence into simple, applicable nuggets and frameworks, interspersed with relatable anecdotes and examples, that helps us ultimately develop our confidence from the inside out.
The analogy of the cockpit helps us visualise the aspect of confidence and how to identify when we are out of balance and how to get back to even keel aids in gaining our confidence at the core.
Recommended By: Sangeetha Flora
When a flight gets delayed after the passengers board the airplane, it could be a challenge for the staff to communicate it to the passengers.
Once a pilot handled such a situation quite efficiently by saying, “Dear passengers, thank you for choosing our airlines. Your safety is our priority. Our team spotted a glitch when they ran a few checks. Once it’s sorted, we will have a safe flight. Thank you for your patience.”
Focusing on the bigger picture and conveying the right intent patiently can make a world of difference.
The tone of voice could play a fairly crucial role. ‘Have a nice day’ could be said in a monotonous way and it could also be said in an enthusiastic manner.
If you carefully observe, every sentence is connected to another in a paragraph, using a word or a phrase.
I have highlighted the words and phrases that bring coherence in the following paragraph.
London, unlike other countries, has still kept its original red Trams.Theyare driven in the middle of the road, resulting in traffic jam problems.To sort that out,the government decided to make an underground railway track.The infrastructurewas placed in 1970.
(From the linkhttps://leverageedu.com/blog/jumbled-words/)
The pronouns, articles and discourse markers usually help us to be more coherent. It can be applied for speaking too.
1. SEZ Monthly Return for the Previous month
1. STPI Monthly Return for the previous Month
2. Extended due date for Income Tax Return for Entities having Tax Audit
3. Monthly Return in ECB – 2 under FEMA
4. Equalization Tax
5. TDS/TCS payment
1. GSTR-1 monthly return for October, 2022 aggregate turnover less than 1.5 crores
1. PF Payment
1. GSTR-3B for the month of October, 2022
2. PT Payment
1. E.S.I.C payment
1. PF return – Monthly
1. Extended due date for 26-Q TDS return (2nd Qtr)
Pursuant to Regulation 292D of the ICDR Regulations every Social Stock Exchange (“SSE”) is required to constitute a Social Stock Exchange Governing Council (“SGC”) to have oversight on its functioning.
Vide Circular dated 13 October 2022 SEBI has notified the composition and Terms of Reference of the SGC to be constituted. Highlights of the same are as follows:
The Ministry of Micro, Small and Medium Enterprises has notified the new thresholds for classification of MSMEs vide notification dtd. 26 June 2020.
In the said notification paragraph 8 sub-paragraph 5 has been replaced. Consequently, even after re-classification of an entity due to an upward change (example – micro to small or medium) arising from the change in thresholds i.e. investment in plant and machinery or turnover or both, the entity will continue to enjoy the non-tax benefits available to the lower category enterprise for a period of 3 years from the re-classification.
Earlier such benefit was available for 1 year.
Pursuant to the Master Direction – Non-Banking Financial Company-Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank), Directions 2016, NBFCs that are floated by common promoters shall not be viewed on standalone basis. Accordingly, the assets of all NBFCs in a group shall be consolidated to determine their threshold for classification as Middle Layer NBFC.
RBI has notified vide Circular dated 11 October 2022 that if the consolidated asset size of the Group is ₹1000 crore and above, then each Investment and Credit Company (NBFC-ICC), Micro Finance Institution (NBFC-MFI), NBFC-Factor and Mortgage Guarantee Company (NBFC-MGC) lying in the Group shall be classified as an NBFC in the Middle Layer and consequently, regulations as applicable to the Middle Layer shall be applicable to them.
The Hon’ble Supreme Court of India vide order dated 22 July 2022 in the matter of Union of India vs. M/s. Filco Trade Centre Pvt. Ltd., SLP(C) No. 32709-32710/2018 SC, has directed GSTN to open portal for filing of TRAN-1 and TRAN-2. In compliance of the Hon’ble court’s directive, the facility for filing TRAN-1/ TRAN-2 or revising the earlier filed TRAN-1/TRAN-2 on the GST common portal by aggrieved taxpayers, is now available on GSTNfrom 1 October 2022 till 30 November 2022.
The Central Government has appointed 1 October 2022 as the date on which the provisions of sections 100 to 114, except clause (c) of section 110 and section 111, of the Finance Act, 2022 shall come into force.
Click here to read the short article to understand the impact of the amended in Finance Act, 2022 on relevant sections of the CGST Act.
Central Tax Notification dated 28 September 2022 has made certain amendments to the Central Goods and Services Tax Rules, 2017 (‘CGST Rules’) effective 1 October 2022. The key amendments to the CGST Rules are set out below:
On consideration of difficulties faced by the taxpayers and other stakeholders in filing of various reports of audit for the Assessment Year 2022-23 under the Income-tax Act,1961(Act), Central Board of Direct Taxes (CBDT) has further extended the due date for filing of various reports of audit for the Assessment Year 2022-23 from 31 October 2022 to 7 November 2022 for certain category of assessees for whom the due date was 30 September 2022.
Earlier CBDT had extended the due date from 30 September 2022 to 7 October 2022 vide Circular No. 19/2022 dtd.30 September 2022. Click here to view the Circular.