WFH Positivity Dossier
It is day 14 of the lockdown! In today’s #WFH Positivity Dossier we have – urdhva mukha svanasana, a continuation of yesterday’s yoga practice. For #EverythingGSTin21Days we have all about Imports and GST. Our book of the day – ‘I am another you’ by Priya Kumar is a gem and gives valuable life lessons.
Isn’t this a complete wholesome package? You get a yoga posture that does so much good to your body, you also get ready-made GST Updates, and so much wisdom an incredible book without having to read it!
Yoga Pose for the Day
By Meghana Pawar – Certified Yoga Trainer
Urdhva Mukha Svanasana – Upward Facing Dog
We learnt Adho Mukha Svanasana in yesterday’s #WFH Positivity Dossier. Today we will learn its continuation practice.
Steps to perform the asana:
Step 1: Lie down on your stomach (on the mat). Feet together, take your hands near your chest.
Step 2: Breathe in and slowly lift your torso, hips and knees up and straighten your hands.
Step 3: Ensure your toes are pointing outwards and the back has a good curve. Look up with your neck stretched. Maintain this posture for 3 to 5 breaths or as per your capacity.
Step 4: To come out, slowly out your body down and relax your hands and lie down flat on your stomach again stay there for a few breaths. You can repeat this for 2-4 times or as per your comfort.
Note: Remember, this asana is different from bhujangasana as your body is lifted up here. Do light warm up before practicing this asana.
Back injury, Carpal tunnel syndrome, Headache, Pregnancy, Women in their monthly cycle.
- Improves posture
- Improves blood circulation
- Strengthens the spinal column, arms, wrists
- The lungs, shoulders, and chest are stretched
- Firms the buttocks and tones the leg muscles
- Stimulates abdominal organs, thus is good for digestion
- It is therapeutic for asthma
- It is therapeutic for sciatica
- Helps in mild depression, and fatigue
Imports and GST
Most of the people in India believe in using branded goods especially if they are imported ones. Even when New Economic Policy was introduced in 1991 government reduced the custom duties on imports and exports so that they can attract foreign investors.
“In times of crisis, we must all decide again and again whom we love.”
By Frank O’Hara
GST Provisions for imports
- Import as Inter-State Supply – Import into India will be considered as Inter-State supply under Model GST Law and accordingly will attract Integrated Goods and Services Tax (IGST) along with BCD and other surcharges.
- Import of Services – Model GST law accord liability of payment of tax on the service receiver, if such services are provided by a person residing outside India.
How to report Imports
In GST also government has given a special role to imports. Government asked taxpayers to show details of all invoices, related to imports, in GSTR-2 and a summary of ITC taken against such imported goods in GSTR-3. Due to some reasons GSTR-2 and GSTR-3 deferred but GSTR-3B came into existence. In GSTR-3B we do show the details of ITC taken on imported goods and services.
Even in GSTR-9 GSTN has asked taxpayers to show details of ITC taken on imported goods and services, amount of tax paid on imported goods and services and a difference between the two.
In GSTR-5 also government has kept a separate table where the taxpayers need to show details of goods imported at invoice level.
Under the old return filing system, ITC on imports alone has to be reported in GSTR-3B. However, under the new return filing system, the taxpayer has to report imports of goods and services in GST ANX-1.
GST ANX-1 should be filed for reporting sales and declaring tax liability on the sales. Imports are also to be reported in GST ANX-1 table 3I & 3J and ITC on imports will be auto populated in GST RET-1 table 4.A.6 and 4.A.7
For EWB and Import, kindly refer our blog https://irisgst.com/eway-bill-for-imports/
Book of the Day
Title: I am Another You
Author: Priya Kumar
- You can get over any setback: In life, no matter how big our setback is, we can get over it. The book teaches us that even if we are at our worst times, we can surpass that and begin our life from scratch. There are hundreds of examples where people have rose from tragic accidents, deadly diseases, financial crises and more. So, we must have faith and not lose hope in any situation.
- The power of spirituality: The power of spirituality is immense. Spirituality can help us grow in every area of our life be it financial, material or emotional. Spirituality deals with our body, breath and mind. When our mind is taken care of and our energy is channelized in the right direction, nobody can stop us from achieving great results.
- The power of love: Love is not just an emotion. It cannot be expressed fully and the book says that the power of love can make an individual do incredible things. One can go to any extend for love. Time and again, this phenomenon has been proven. Anger, lust, jealousy are all distortions of love.
- Moving on: This is again a very important aspect when it comes to growth. For a growth mindset, one cannot keep brooding over the past and waste time. Moving on from events, situations, circumstances and even people that drag us down is important for growth.
- Taking consistent action: Needless to say, taking consistent action is the key to grow and derive the results we desire. If we are in a situation that we are not happy about, inaction will be your worst enemy in that case. You need to take consistent action and steps to improve your situation. This is a never ending and a continuous process.
- Positive mindset: Almost every great book talks about the importance of positive mindset. Our mind is supremely powerful. Our subconscious mind can make or break us. It is vital that we feed our mind with positive things for positive outcomes.
- Every setback teaches us valuable lessons: In the book, the author experiences a very tragic situation and then she takes action steps to rise above it all. In the process, she learns so much and gains so much knowledge, wisdom that she may not have experienced hadn’t she been in that situation. So, every set back teaches us something. All we need to do is be aware and be open to learning.
Like in the last point of the book wisdom, we too are currently in the worst of times with a world pandemic situation and an upcoming global economic crisis plus climate change. However, every situation that we are presented with teaches us something valuable. All we need to do is be aware and learn. Also, think upon what we can do to make the best of this situation and also help others in the process.