CA Mohan LalKukreja

Chairman - Agra Branch

CA Mohan LalKukreja

CA GauravBansal

CA Sudeep K Jain

CA Sudeep K Jain

CA S.C. Jain

CA U.K. Garg

CA Nikhil Gupta

CA SandeepKapoor

CA VinayBansal

CA Pankaj Mishra

CA VivekGoyal

CA RohitDua

Vol XVIII Issue: 10For Private Circulation Only December- 2018

Respected Seniors and Dear Members,

I feel privileged to interact with all of you through this E-Newsletter in this

month of December. Last month of November passed with various Branch

Events and activities related to core requirement of professional Interest.

Last month of November involves various activities like:-

Lecture Meeting on Power and Function of NFRA under Company Act

2013& Responsibilities of Company Auditor:Branch organized Lecture

Meeting for CA members in which CA. Rishi Agarwalji enlightened the

house about the subject in a very technical as well as interactive manner.

CPE Week from 13.11.18 - 17.11.18 being Organized / Hosted by Agra

Branch of CIRC: Agra Branch organized a CPE Week to facilitate all the

members with quality CPE hours. CA. PremGul, CA. SahebSatsangi, CA.

SachinBubna, CA. Deependra Mohan, CA. Ranjan Chopra & CA. Baldev Raj

were the key note speakers and this program and it was a good experience

of back to back programs and same was well appreciated by members at

large.

Full Day Workshop on Word, Excel &Powepoint:Agra Branch organized

a Full day Workshop on Word, Excel &Powerpoint at Sanjay Place Branch.

Mr. ManojAgarwal wasthe key note Speakers. This seminar was very

insightful for all the members present .

Further I always welcome your words of praise for the good work of the team

Agra as well as constructive criticism for betterment. Agra Branch is open to

new ideas and programs. So all members are requested to give suggestions and

contribute your thoughts.

With Best regards

CA. Mohan LalKukreja

Chairman-Agra Branch of CIRC of ICAI

Chief Editor

Editors

Members

Page 2

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STRESS MANAGEMENT

1. Identify StressorsThis is the most important step of all, as identifying the things that stress you out in your life

is the first step towards eliminating them. Take 10 minutes to think about what stresses you out during the day.

What weekly occurrences stress you out? What people, activities, things cause stress in your life? Make a Top

10 list, and see which of them can be eliminated, and start to weed them out. For those that can’t, find ways to

make them less stressful.

Index

1. Stress Management Pg…2

2. Determination And Apportionment Of Input Tax Credit In Respect Of Capital Goods Pg…5

3. Central Council programs/ Certificate Courses Pg…11

4. Coverage - :All relevant information regarding the latest notifications/

developments in the fields of Accounting/ Auditing/ Information Technology and

other areas of interest to profession Pg…12

5. Glimpses of various workshops, study circles meets & social events conducted by

Agra branch of CIRC Pg…13

6. Agra Branch in News Pg…15

Page 3

2. Eliminate Unnecessary Commitments We all have many commitments in our life, starting with work but also

including commitments related to kids, our spouses, things to do at home, other family, civic, side work,

religious, hobbies, online activities and more. Consider each of them, the amount of stress they provide, and the

value you get out of them. Edit brutally, and take steps today to remove the ones that stress you out the most.

3. Procrastination We all do this, of course. But allowing stuff to pile up will stress us out. Find ways to take care

of stuff now (form a Do It Now habit) and keep your inbox and desk clear.

4. Disorganization We’re all disorganized to some extent. Even if we’ve organized something, and created a great

system for keeping it that way, things tend to move towards chaos over time. But disorganization stresses us

out, in terms of visual clutter, and in making it difficult to find stuff we need. Take time to get things in your life

organized, starting with your desk and the papers in your home, and moving on to other areas.

5. Late Being late always stresses us out. We have to rush to get ready, rush to get there, and stress out the whole

time about looking bad and being late. Learn the habit of being early, and this stress disappears. Make a

conscious effort to start getting ready earlier, and to leave earlier. This also makes driving less stressful. Time

yourself to see how long it actually takes to get ready, and how long it actually takes to get somewhere. You’ve

probably been underestimating these times. Once you know these times, you can plan backwards so that you

show up 10 minutes early each time. It’s a good feeling.

6. Controlling We are not the Master of this Universe. I know we sometimes wish we were, but acting as if we are

is a sure way to get stressed out. Trying to control situations and people cannot work, and only serves to

increase our anxiety when it doesn’t work. Learn to let go, and accept the way that other people do things, and

accept what happens in different situations. The only thing you can control is yourself — work on that before

you consider trying to control the world. Also learn to separate yourself from tasks and to delegate them.

Learning to let go of our need to control others and the situations around us is a major step towards eliminating

stress.

7. Multitasking Having multiple tasks going on at the same time might seem productive, but in actuality it slows

us down from actually focusing on a task and completing it — and it stresses us out in the meantime. Learn

to single-task.

Page 4

8. Eliminate Energy Drains If you’ve analyzed your life (in Step 1) and found things that stress you out, you

might have also noticed things that drain your energy. Certain things in our life just cause us to be more

exhausted than others, with less value. Identify them, and cut them out. You’ll have much more energy and

much less stress. Happiness ensues.

9. Avoid Difficult People You know who they are. If you take a minute to think about it, you can identify all the

people in your life — bosses, coworkers, customers, friends, family, etc. — who make your life more difficult.

Now, you could confront them and do battle with them, but that will most certainly be difficult. Just cut them

out of your life.

10. Simplify Life. Simplifying of course, is a major theme of Zen Habits. Simplify your routines, your

commitments, your information intake, your cluttered rooms, the mass of stuff going on in your life … and have

less stress as a result. Start with Edit Your Life and then look through the other simplicity articles.

11. Unscheduled Create more open periods of time in your life. It’s not necessary to schedule every minute of our

lives. Learn to avoid meetings, keep wide open blocks of time where we either work on our important tasks or

batch process the smaller ones. When someone asks to schedule a meeting, first try to get it done through email

or phone … if that doesn’t work, avoid having it scheduled. Ask them to call you and see if you’re free at that

time. You will love having an open schedule.

12. Slow Down Instead of rushing through life, learn to take things slow. Enjoy your food, enjoy the people around

you, and enjoy nature. This step alone can save tons of stress.

13. Help OthersIt may sound contradictory to add more tasks to your life by trying to help other people (you’ve got

enough to do), but if you were to add anything to your life, this should be it. Helping others, whether

volunteering for a charity organization or just making an effort to be compassionate towards people you meet,

not only gives you a very good feeling, it somehow lowers your stress level. Of course, this doesn’t work if you

try to control others, or help others in a very rushed and frenetic way — learn to take it easy, enjoy yourself, and

let things happen, as you work to make the lives of others better.

14. Relax Throughout the Day It’s important to take mini-breaks during your work day. Stop what you’re doing,

massage your shoulders and neck and head and hands and arms, get up and stretch, walk around, drink some

water. Go outside and appreciate the fresh air and the beautiful sky. Talk to someone you like. Life doesn’t have

to be all about productivity. You should also avoid using online activity too much as your de-stressing activity

— get away from the computer to relax.

Page 5

15. Quit Work This one’s drastic, and probably too drastic for most. But in most likelihood, your work is your

absolute biggest stressor. Getting out of your 9-to-5, automating your income, and finding something you truly

love to do, that you’re passionate about, will create a positive life and much less stressful one at that. Give it a

little thought before dismissing it — there might be possibilities here you haven’t considered.

16. Simplify Your To-Do List. Attempting to do everything on your long to-do list will definitely stress you out.

Learn to simplify your to-do list down to the few essential tasks, and you will enjoy the process much more.

17. Exercise This is common advice for stress relief, and that’s because it works … but it’s also a stress prevention

method. Exercising helps relieve the stress buildup, it gives you some quiet time to contemplate and relax, and

just as importantly, it makes you more fit. A fitter person is better equipped to handle stress. Another important

factor: being unhealthy can be a major stressor (especially once you have to go to the hospital), and exercise can

help prevent that.

18. Eat Healthy. This goes hand-in-hand with exercise as a stress prevention method, of course. Become healthier

and a major source of stress will disappear. Also, I’ve found that greasy food, for me, puts me in a worse mood

and can contribute to stress levels immediately.

19. Be Grateful. This might not be as obvious as some of the others, but developing an attitude of gratitude is a

way of thinking positive, eliminating negative thinking from your life, and thereby reducing stress. Learn to be

grateful for what you have, for the people in your life, and see it as a gift. With this sort of outlook on life, stress

will go down and happiness will go up. That’s a winning formula.

20. Zen-Like Environment. Take time to re-organize your desk (as mentioned above) and even once you do that,

continually edit your desk and working space, and the things in your home, until you’ve created a simple,

peaceful, Zen-like environment. It will be much less stressful to work in an environment like that than a more

cluttered and distracting one.

CA. Rajeev Goyal

M.No.: 077358

Page 6

DETERMINATION AND APPORTIONMENT OF INPUT TAX

CREDIT IN RESPECT OF CAPITAL GOODS

(Unfolding Technicalities of Rule 43 Of Central Goods And Services Tax Rules, 2017 – Case Study)

Assumption: GST law was implemented from 01.04.2010. This assumption

has been taken so that reader could imagine the real picture of rule 43.

For better understanding, take example of October 2018. Please consider the

following data to analyze drafting of rule 43:

Page 7

Use for common purpose includes use of capital goods for effecting taxable supplies and exempt supplies.

Taxable supplies include zero rated supplies

Turnover type Amount (Rs.)

(For October 2018)

Exempt 4 crores

Total 10 crores

We are preparing return for October 2018.

1. CG1, CG2

5 years have been lapsed from date of invoice, so, these are not relevant.

Page 8

2. Capital goods which are exclusively being used for particular purpose during October 2018

3. Capital goods which are being used for common purpose for the first time in October 2018

Page 9

4. Other capital goods which are being used for common purpose in October 2018

4.1. CG4: Tc in respect of CG4 would have been calculated in March 2017 as under

4.2. CG7: Tc in respect of CG7 would have been calculated in August 2017 as under

4.3. CG3 & CG8: Tc in respect of CG3& CG8would have been calculated in May 2018 as under

Page 10

Amount of ITC on all capital goods whose useful life remains during October 2018 [Tr] shall be calculated as

under [see rule 43(1)(f)]–

Tr = Ʃ Tm

= 12,050+5,950+10,000+9,400

= 37,400

Amount of credit attributable towards exempted supplies for October 2018 [Te] shall be calculated as under –

Te= (E÷F) × Tr

= (4÷10) × 37,400

= 14,960/-

Where –

E = Exempt turnover for the tax period

i.e. October 2018 in our example

F = Total turnover for the tax period

i.e. October 2018 in our example

Page 11

Conclusion of determination and apportionment of ITC for October 2018

(As per rule 43) Amount to be credited in electronic credit ledger (i.e. ITC to be taken) in respect of –

CG9 : 1,92,000

CG5 : 3,63,000

CG11 : 2,40,000

7,95,000

Teto be added to output tax liability as per rules (but to be shown as reversal in GSTR-3B) 14,960

CENTRAL COUNCIL PROGRAMS / CERTIFICATE COURSES

Indirect Taxes Committee is organising Two Days Conference on GST Audit & Annual Returns on December 11

and 12,2018 which is hosted by Bangalore Branch of SIRC of ICAI.

Workshop on ABCD of Technology - Artificial Intelligence, Block Chain, Cyber Security, Data Analytics for

Chartered Accountants at Coimbatore on 14th December 2018

Internal Audit Standards Board of ICAI is organising Certificate Course on Concurrent Audit of Banks at

Ernakulamfrom December 15, 2018

Internal Audit Standards Board of ICAI is organising Certificate Course on Concurrent Audit of Banks at Indore

from December 22, 2018.

Five days Residential Programme on Advanced Leadership for Chartered Accountants on 24th to 28th December

2018 at Indian Institute of Management, Ahmedabad.

Page 12

GLIMPSES OF VARIOUS WORKSHOPS, STUDY CIRCLES MEETS & SOCIAL

EVENTS CONDUCTED BY AGRA BRANCH OF CIRC

SOCIAL EVENTS CONDUCTED BY AGRA BRANCH OF CIRC

LATEST NOTIFICATIONS/ DEVELOPMENTS IN THE FIELDS OF ACCOUNTING / AUDITING / INFORMATION TECHNOLOGY AND OTHER

AREAS OF INTEREST TO PROFESSION

Invitation for Expression of interest (EOI) from Life

Insurance companies for providing Group Term

Insurance to the Member of ICAI/Spouse of the

Member of ICAI/Students of ICAI by 20th December,

2018 - (28-11-2018)

Next of Batch of Educational Course by ICAI Registered Valuers Organisation (ICAI RVO) at Pune from 15th December, 2018 to 6th January, 2019. - (21-11-2018).

Page 13

Half day Workshop on GST Audit13.11.18,

AT ICAI BHAWAN, Sanjay Place, Agra

Lecture Meeting on GST Annual Return 15.11.18,

AT ICAI BHAWAN, Sanjay Place, Agra

Lecture Meeting on Income Tax Search & Survey

16.11.18, AT ICAI BHAWAN, Sanjay Place, Agra

Programme on Taxation of Non Residents &

Professional Opportunities for CA in NRI

taxation

14.11.18, AT ICAI BHAWAN, Sanjay Place,

Agra

Page 14

GLIMPSES OF VARIOUS WORKSHOPS, STUDY CIRCLES MEETS & SOCIAL

EVENTS CONDUCTED BY AGRA BRANCH OF CIRC

SOCIAL EVENTS CONDUCTED BY AGRA BRANCH OF CIRC

Full day Workshop on Practical aspects of

Taxability of Charitable Organizations

(NPOs) &Impact of GST on various

aspects of Income Tax &Cash

Transactions under Income Tax Act

on17.11.18,

AT Hotel Howard Plaza,Fatehabad Rd, Agra

Full day Workshop on Word, Excel

&Power pointon 24.11.18,

AT Hotel Howard Plaza,Fatehabad Rd, Agra

Half day Workshop on GST Annual

Returnon 30.11.18,

AT HARI DARSHAN NAGAR, CITY STATION

ROAD, MAINPUR

Half day Workshop on GST Annual

Return on 30.11.18,

AT SECTOR – 23, SHRI NAGAR, NAGAR, ETAH

Page 15

AGRA BRANCH IN MEDIA

Amar Ujala – 13.11.18

Amar Ujala – 15.11.18

DLA – 13.11.18

DLA – 15.11.18

Page 16

DLA – 14.11.18

AGRA BRANCH IN MEDIA

DLA – 16.11.18

DLA – 30.11.18