WFH Possitivity Dossier
Hello Folks! It is day 7 of the lockdown! We are already 1 week down, 2 to go! Days aren’t as gloomy now as they seemed in the beginning , or are they?
We understand it can get a little difficult for most of us to adjust to this new work from home setting and with the situation amidst COVID-19, getting a little anxious is very natural. That is the very reason,we initiated this Positivity Dossier to bring in little moments of joy to your life.
Today’s dossier has everything you need to reduce your stress and smile more!
Yoga Pose for the Day
By Meghana Pawar – Certified Yoga Trainer
Shishuasana or Baalasana – The Child Pose
We all have been doing this posture without even realising its benefits as kids. The child pose is an easy relaxation posture that helps us relieve stress and anxiety.
Steps to perform the asana:
Step 1: Sit in Vajrasana – following all the steps that we learnt in yesterday’s positivity dossier.
Step 2: Slowly start bending forward with your hands stretched outward.
Step 3: As your forehead touches the floor, let your hands rest on the floor. Close your eyes and relax in this posture for 5 to 10 breaths or more. Enjoy deep and slow breathing in this posture.
Step 5: Come up slowly and let go of your vajrasana. You can use this posture as a resting asana between intense asanas and also during your workout routine. It can also be independently practised.
- It is a highly relaxing posture. It relaxes all the muscles in your body.
- Improves blood circulation.
- Reduces stress and anxiety. Calms the mind.
- Tones the abdominal muscles due to the gentle pressure.
- Helps to improve the digestion and elimination process.
How to Comply – Part 3
Today is the third and last part of our ‘How to comply’ series. We had discussed GST Return 1 and some important facts about the same on Day 5. While yesterday we went deeper for other GST Returns like GSTR-5, GSTR-6, GSTR-7, GSTR-8 and GSTR-11 of normal returns.
On the new returns, we discussed about SUGAM (RET-3) – Quarterly Return for B2B+B2C Transactionson Day 5 and yesterday we covered SAHAJ (RET-2): Quarterly Return for B2C Transactions.
The last trench of ‘How to Comply’ series, we will close with GSTR-3B, GSTR-9 and GSTR-10 GST Returns.
- GSTR-3B: GSTR 3B needs to be filed monthly
- GSTR-9: GSTR 9 is an annual return and has few components to it. You may refer ourdetailed articles on GSTR 9 here:
“Any deep crisis is an opportunity to make your life extraordinary in some way.”
By Martha Beck
And lastly how to prepare GSTR 9 – explained Table-wise
- 10 Step Guide to Outward Supply: Table 4 and 5 of Form GSTR-9 Explained
- Inward Supplies and ITC in GSTR 9: Table 6 Explained
- How to Fill ITC Reversal details in GSTR 9: Table 7 Explained
- Credit Availed and IGST paid in GSTR 9 – Table 8 Explained
- Part IV of GSTR 9: Declaring the Actual Tax Paid during the Year
- Part V of GSTR 9 Explained: Particulars of Transactions Declared in Monthly Returns
- GSTR-10: GSTR 10 is filed when taxpayer wants to revoke the GSTIN.
Even though the purpose of all these returns is different, there are certain aspects common to all the three returns.
- First one is the process to file the three returns. This is similar for all the three. Upload your data, correct validation errors if any, generate summary, verify it with your records, make payment of your liability if any and submit and file the return.
- Second is in all the three returns we do not upload any invoice details. We just display our liability and ITC of the return period.
- Third is if any liability arises for the period due to filing of the return, taxpayer should pay that liability.
- Fourth is filing all the three returns is dependent on filing of other returns.
- GSTR-3B for any month cannot be filed if GSTR-1 for the month is not filed.
- GSTR-9 of any financial year cannot be filed if GSTR-1 and GSTR-3B for the financial year are not filed.
- GSTR-10 cannot be filed if GSTR-9 of the previous financial year is not filed.
Considering simplification of GST return system, in the 31st GST Council Meeting, it was decided to introduce new returns which would be simpler to prepare and file. Under the new return system, it is proposed to keep monthly filing and quarterly filing.
We have covered the Sahaj (RET 2) and Sugam (RET 3) forms in last 2 days. Today, in the last lap of our ‘how to comply’ series, let us now try and understand RET 1 in detail.Normal Return – FORM GST RET-1 is applicable for filers where they will be able to declare all types of outward supplies, inward supplies and take credit on missing invoices. It can be of monthly or quarterly frequency.
You can read more resources here to understand the same:
Book of the Day
Title: The Alchemist
Author: Paulo Coelho
Key takeaways from the book:
- Breaking the monotony: The book says, “When each day is the same as the next, it’s because people fail to recognize the good things that happen in their lives every day that the sun rises.” We must look for newness actively every single day and we shall find it.
- Practise Gratitude: It is important that we practise gratitude every day to break through the mundane and experience joy in little things. We have been given so much and we need to value it. There is always a silver lining to every dark cloud. If you are sad about not getting to go out, you need to acknowledge that you have a safe home to stay in this time of crises! Many people have gone homeless with no food and no daily resources. There is always something to be grateful about.
- Living in the present: Many good books and great men have talked about this. There is no point in brooding over the past and being anxious about the future. Doing so makes us miss the present tense. And if you look at it practically, present moment is the only thing we have our control over. We can’t change the past no matter how good or bad it was nor we know the future. Thus fully enjoying the present moment is the key to happiness.
- Success has a rippling-effect: The book says,“That’s what alchemists do. They show that, when we strive to become better than we are, everything around us becomes better, too.” When we take action steps to evolve, grow and become a better version of ourselves we achieve great things. And not just us but our close circle of people also get benefitted.
- Don’t quit after a fall: Keep getting back up every time you fall. We are humans, it is natural to make mistakes. If we encounter a failure, we must get back up and keep moving ahead. If you fall 10 times, get up every single time and try for the 11th time! This is the formula for success.
- Focus on your own self: Look nowhere and measure your own growth. Don’t compare yourself with others. Every person’s journey is different. Take consistent action for your own growth and keep on track with your goals. Don’t get influenced by another person’s success or even failures.
That’s it for today! We will catch you tomorrow with a new set of updates that will leave you with #positivity! Till then keep following all the yoga postures – you have learnt seven now! Share book learning pointers with your family and friends also, keep yourself updated with our GST Dossier!
You can read our GST Blog to know all about GST and stay up to date!