The Thought of Winston Churchill The thought of Winston Churchill, 'It is always wise to look ahead, but difficult to look further than you can see' means a lot. Sir Winston Leonard Spencer-Churchill was a British Conservative politician and statesman known for his leadership of the United Kingdom during the Second World War. Widely regarded as one
The Thought of Winston Churchill
The thought of Winston Churchill, 'It is always wise to look ahead, but difficult to look further than you can see' means a lot.
Sir Winston Leonard Spencer-Churchill was a British Conservative politician and statesman known for his leadership of the United Kingdom during the Second World War. Widely regarded as one of the greatest wartime leaders of the century, he served as Prime Minister twice.
"Courage is what it takes to stand up and speak; courage is also what it takes to sit down and listen." "We make a living by what we get, but we make a life by what we give." are some of his other quotations.
Churchill is probably no stranger to anyone. He was a famous British Leader during the Second World War. He is given some fundamental for which he will be remembered for centuries. Here are a few of them.
1. Most troubles never happen.
Most things you fear will happen never happen. They are just monsters in your own mind. And if they happen then they will most often not be as painful or bad as you expected. Worrying is most often just a waste of time.
"When I look back on all these worries, I remember the story of the old man who said on his deathbed that he had had a lot of trouble in his life, most of which had never happened"
2. Focus on what you are doing right now.
When you start to look too far into the future then any task or project can seem close to impossible. And so you shut down because you become overwhelmed and start surfing the internet aimlessly instead. That is one of the reasons why it is good to plan for the future but then to shift your focus back to today and the present moment.
"It is a mistake to look too far ahead. Only one link in the chain of destiny can be handled at a time."
"It is always wise to look ahead, but difficult to look further than you can see."
3. Be an optimist.
Focusing on what helps you sure makes a huge difference compared to if you keep focusing on what is wrong in every situation or what makes you more of a victim. It's like living in two different worlds.
How do you make the shift to a more optimistic attitude? Well, it takes time. But gradually you can change it.
"The pessimist sees difficulty in every opportunity. The optimist sees the opportunity in every difficulty."
"Attitude is a little thing that makes a big difference."
"I am an optimist. It does not seem too much use being anything else."
4. Be concerned about action.
Taking action can lead to failure, rejection or making mistakes. There is always a risk for that. But if you stay in inaction then you are pretty much guaranteed that nothing will change or improve.
How can you improve your action habit though? Three tips:
- Reconnect with the present moment.
- Lighten up.
- Start small.
"I never worry about action, but only about inaction"
5. Don't give up.
Since society often tells us to look for quick fixes it's easy to make the mistake of giving up to soon. After you have failed perhaps 1-5 times. That's the "normal" thing to do. But what could have happened if someone just kept going after that? And for each failure learned more and more about what works?
I think people often make a mistake of giving up too early. Your mind probably has a reasonable time-frame for success. This might not correspond to a realistic time-frame though.
It's useful to take a break from advertised perspectives and let more realistic perspectives seep into your mind. Learn from people who have gone where you want to go. Talk to them. Read what they have to say in books or online. This will not give complete plan but a clearer perspective of what is needed to achieve what you want.
"Continuous effort – not strength or intelligence – is the key to unlocking our potential"
"If you're going through hell, keep going."
6. Always be enthusiastic.
It's very easy to get down on yourself and your results when things don't go as planned. What was once enthusiasm can quickly become apathy and pessimism?
But how do you do keep up the enthusiasm after things have gone wrong and you just feel like giving up? It is keep yourself energy up, acting as you would like to feel and keeping away from negative influences work very well here too.
"Success is going from failure to failure without losing enthusiasm."
(Author may be contacted at Navneet.Singal@gmrgroup.in)
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The Thought of Winston Churchill The thought of Winston Churchill, 'It is always wise to look ahead, but difficult to look further than you can see' means a lot. Sir Winston Leonard Spencer-... | |||||||
Adjustment of excess Service tax paid cannot be denied for mere non-compliance of procedure
Adjustment of excess Service tax paid, against tax payable in following months cannot be denied merely on the grounds of non-compliance of procedure
Jubilant Organosys Ltd. Vs. Commissioner of Central Excise, Meerut [(2014) 51 taxmann.com 64 (New Delhi – CESTAT)]
Jubilant Organosys Ltd. (the Appellant) adjusted excess payment of Service tax paid in some months against tax payable in following months and contended that adjustment was valid. However, the Appellant also filed refund claims of the excess payment of Service tax for dealing with the situation if adjustment is not allowed.
The Adjudicating Authority denied the adjustment of excess paid Service tax on the ground that the procedure prescribed under Rule 6(4A) of the Service Tax Rules, 1994 the Service Tax Rules) has not been followed and accordingly confirmed the demand of Service tax against the Appellant. Thereafter, the Commissioner (Appeals) also upheld the demand confirmed by the Adjudicating Authority.
Being aggrieved, the Appellant preferred an appeal before the Hon'ble CESTAT, Delhi and while relying upon following judgments contended that the adjustment of Service tax paid in excess, in certain months towards the Service tax liability of the subsequent months cannot be denied on technical grounds:
- CC, Patel & Associates () Ltd. Vs. Union of India [(2012) 37 STT 370];
- Bank of Rajasthan Ltd. Vs. CCE [(2010) 29 STT 124 (New Delhi – CESTAT)];
- Gujarat NRE Coke Ltd. Vs. CCE [(2012) 36 STT 140];
- BSNL Vs. CCE [(2012) 35 STT 628]; and
- Nirma Architects &Valuers Vs. CCE [(2006) 3 STT 176 (New Delhi – CESTAT)]
The Hon'ble CESTAT, Delhi relying upon its very recent decision in judgment order No. 52863/2014 dated July 10, 2014 in the case of Bharat Sanchar Nigam Ltd.,
held that the matter is no longer res-integra that the adjustment of Service tax paid in excess in certain months towards Service tax liability of subsequent months under Rule 6(4A) of the Service Tax Rules cannot be denied merely on technical grounds. Hence, adjustment was allowed to the Appellant and alternative refund claims were dismissed as infructuous.
The CBDT has issued a letter dated 23.12.2014 setting out the guidelines for compounding of offences under Direct Tax Laws. The guidelines shall come into effect from 01.01.2015 and shall be applicable to all applications for compounding received on or after the aforesaid date. The Guidelines classify offences into two parts and set out the criteria for compounding of offences under each category. The procedure to be adopted for making the compounding application and the manner in which they should be dealt with is also explained in detail.
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The Union Government in third week of December, 2014 (19 December, 2014) introduced Constitution (122 Amendment) Bill, 2014 in Parliament which when passed shall pave the way for introduction of proposed Goods and Service Tax (GST) in India.
Proposed GST – Still Miles Away
Dr. Sanjiv Agarwal
The Union Government in third week of December, 2014 (19 December, 2014) introduced Constitution (122 Amendment) Bill, 2014 in Parliament which when passed shall pave the way for introduction of proposed Goods and Service Tax (GST) in India. Contrary to the general perception that this Bill itself is a GST Bill, it is to be very clearly understood that this is not a GST Bill. In fact, GST Bill is not in sight at all at this moment. What has been introduced is the Constitutional Amendment Bill enabling or empowering the Government to levy a tax called GST which it cannot levy under the present Constitution. The Bill on passage would enable the Central Government and the State Governments to levy GST. This tax (GST) shall be levied concurrently by various states as well as Union Government. Once this is passed by two-third majority in the Parliament, atleast 50 percent of the states will have to pass it. Once this amendment is through, the road will be clear for GST Bill (and then Act). Eventually, we will have following taxes –
- National level GST [Central GST (CGST) and Inter-state GST (IGST)]
- State Level GST (SGST)
A newly inserted article 246A provides for special provision with respect to GST.
The Legislature of every State shall have power to make laws with respect to goods and services tax imposed by the Union or by such State. Parliament will have exclusive power to make laws with respect to goods and services tax where the supply of goods, or of services, or both takes place in the course of inter-State trade or commerce.
Goods and services tax on supplies in the course of inter-State trade or commerce shall be levied and collected by the government of India and such tax shall be apportioned between the Union and the States in the manner as may be provided by Parliament by law on the recommendations of the Goods and Services Tax Council.
Supply of goods or services, or both in the course of import into the territory of India shall be deemed to be supply of goods or services, or both in the course of inter-state trade or commerce.
Parliament may, by law, formulate the principles for determining the place of supply, and when a supply of goods or of services, or both takes place in the course of inter-state trade or commerce.
The President shall, within sixty days from the date of commencement of the Constitution (One Hundred and Twenty-second Amendment) Act, 2014, by order, constitute a Council to be called the Goods and Services Tax Council.
Going by the present mood, the Government of the day feels that it may be able to introduce GST in India w.e.f. 1st April 2016, replacing a host of indirect taxes presently levied by the centre, states and local bodies. It hopes for the parliamentary nod (two-third majority) in the forthcoming Budget session in February, 2015. This is necessary as the Indian Constitution requires amendment to allow states to tax services and the centre to tax goods at the retail level and to provide legal framework for GST by providing for constitution of a GST Council and dispute settlement mechanism.
One of the major obstacles, Central Sales Tax (CST), has been addressed as the centre has agreed for compensation on account of phasing out of CST. A compensation of Rs. 11,000 crores has been announced to make up for 2 percent reduction in GST rate to 2%. The Central Government has agreed for a five year compensation. Petroleum products shall be included in GST and taxed at zero rate for first three years. States will also be compensated for entry tax which has been agreed to be included in GST. The States also want compensation on account of central sales tax to be paid to them expeditiously before it roll-out from April, 2016.
While the Government claims that there was an over whelming support for the proposals on the Constitutional Amendment for GST which were arrived at in consultations with the states, there are states like Tamilnadu which is opposed to hasty introduction of Constitution Amendment Bill for GST in Parliament without evolving consensus.
There are few states which seek expeditious roll out of GST while others like Tamilnadu still want clarity on GST rates, revenue neutral rates, CST compensation methodology etc State like Gujarat feels that finances of net producing and manufacturing states may come under stress in initial years.
All said and done, introduction of GST is not going to be easy. GST design, structure, IGST, administrative arrangement with states, disputes between centre and states, multiplicity of authorities, different interpretations by various states, standardization of systems and procedures, training, need for huge IT infrastructure etc are some of the concerns which will pose challenge to proposed GST. Common date of introducing GST may also be an issue as few states may not cooperate, given the political compulsions.
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Proposed GST – Still Miles Away The Union Government in third week of December, 2014 (19 December, 2014) introduced Constitution (122 Amendment) Bill, 2014 in Parliament which wh... | |||||||
Introduction- With an upsurge in financial accounting fraud in the global economy, forensic accounting has become an emerging topic of great importance for academic, research and industries. Forensic accounting is perceived to have evolved in response to certain emerging fraud related cases. The scandals that shocked the corporate world with classical examples being the often […]
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