July 10, 2017

How does GST Work??????????????????

A nationwide tax reform cannot function without strict guidelines and provisions. The GST Council has devised a fool proof method of implementing this new tax regime by dividing it into three categories. Wondering how they work? Let our experts explain this to you in detail.
When Goods and Services Tax is implemented, there will be 3 kinds of applicable Goods and Services Taxes:

  • CGST: where the revenue will be collected by the central government
  • SGST: where the revenue will be collected by the state governments for intra-state sales
  • IGST: where the revenue will be collected by the central government for inter-state sales

In most cases, the tax structure under the new regime will be as follows:
A dealer in Maharashtra sold goods to a consumer in Maharashtra worth Rs. 10,000. The Goods and Services Tax rate is 18% comprising CGST rate of 9% and SGST rate of 9%. In such cases the dealer collects Rs. 1800 and of this amount, Rs. 900 will go to the central government and Rs. 900 will go to the Maharashtra government.

Now, let us assume the dealer in Maharashtra had sold goods to a dealer in Gujarat worth Rs. 10,000. The GST rate is 18% comprising of CGST rate of 9% and SGST rate of 9%. In such case the dealer has to charge Rs. 1800 as IGST. This IGST will go to the Centre. There will no longer be any need to pay CGST and SGST.

Let us understand this with a hypothetical numerical example.

  • Say a shirt manufacturer pays Rs. 100 to buy raw materials. If the rate of taxes is set at 10%, and there is no profit or loss involved, then he has to pay Rs. 10 as tax. So, the final cost of the shirt now becomes Rs (100+10=) 110.

  • At the next stage, the wholesaler buys the shirt from the manufacturer at Rs. 110, and adds labels to it. When he is adding labels, he is adding value. Therefore, his cost increases by say Rs. 40. On top of this, he has to pay a 10% tax, and the final cost therefore becomes Rs. (110+40=) 150 + 10% tax = Rs. 165.
  • Now, the retailer pays Rs. 165 to buy the shirt from the wholesaler because the tax liability had passed on to him. He has to package the shirt, and when he does that, he is adding value again. This time, let’s say his value add is Rs. 30. Now when he sells the shirt, he adds this value (plus the VAT he has to pay the government) to the final cost. So, the cost of the shirt becomes Rs. 214.5 Let us see a breakup for this:
  • Cost = Rs. 165 + Value add = Rs. 30 + 10% tax = Rs. 195 + Rs. 19.5 = Rs. 214.5
  • So, the customer pays Rs. 214.5 for a shirt the cost price of which was basically only Rs. 170 (Rs 110 + Rs. 40 + Rs. 30). Along the way the tax liability was passed on at every stage of transaction and the final liability comes to rest with the customer. This is called the Cascading Effect of Taxes where a tax is paid on tax and the value of the item keeps increasing every time this happens.

What is GST?(Goods and ServiceTax)

  • Goods and Services Tax (GST) is an indirect tax applicable throughout India which replaced multiple cascading taxes levied by the central and state governments. It was introduced as The Constitution (One Hundred and First Amendment) Act 2017, following the passage of Constitution 122nd Amendment Bill. 
  • The GST is governed by a GST Council and its Chairman is the Finance Minister of India. Under GST, goods and services are taxed at the following rates, 0%, 5%, 12% and 18%. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. In addition a cess of 15% or other rates on top of 28% GST applies on few items like aerated drinks, luxury cars and tobacco products.
  • To understand this, we need to understand the concepts under this definition. Let us start with the term ‘Multi-stage’. Now, there are multiple steps an item goes through from manufacture or production to the final sale.
  • Buying of raw materials is the first stage. The second stage is production or manufacture. Then, there is the warehousing of materials. Next, comes the sale of the product to the retailer. And in the final stage, the retailer sells you – the end consumer – the product, completing its life cycle.
  • So, if we had to look at a pictorial description of the various stages, it would look like:

Goods and Services Tax will be levied on each of these stages, which makes it a multi-stage tax. How? We will see that shortly, but before that, let us talk about ‘Value Addition’.

Let us assume that a manufacturer wants to make a shirt. For this he must buy yarn. This gets turned into a shirt after manufacture. So, the value of the yarn is increased when it gets woven into a shirt. Then, the manufacturer sells it to the warehousing agent who attaches labels and tags to each shirt. That is another addition of value after which the warehouse sells it to the retailer who packages each shirt separately and invests in marketing of the shirt thus increasing its value.

October 31, 2013

Common Interview Questions - How to answer?

Tell me about yourself?

TRAPS:  Beware; about 80% of all interviews begin with this “innocent” question. Many candidates, unprepared for the question, skewer themselves by rambling, recapping their life story, delving into ancient work history or personal matters.

BEST ANSWER:  Start with the present and tell why you are well qualified for the position. Remember that the key to all successful interviewing is to match your qualifications to what the interviewer is looking for. In other words you must sell what the buyer is buying. This is the single most important strategy in job hunting.
So, before you answer this or any question it's imperative that you try to uncover your interviewer's greatest need, want, problem or goal.

To do so, make you take these two steps:
1.    Do all the homework you can before the interview to uncover this person's wants and needs (not the generalized needs of the industry or company)
2.    As early as you can in the interview, ask for a more complete description of what the position entails.  You might say: “I have a number of accomplishments I'd like to tell you about, but I want to make the best use of our time together and talk directly to your needs. To help me do, that, could you tell me more about the most important priorities of this position?  All I know is what I (heard from the recruiter, read in the classified ad, etc.)”
 Then, ALWAYS follow-up with a second and possibly, third question, to draw out his needs even more. Surprisingly, it's usually this second or third question that unearths what the interviewer is most looking for.
You might ask simply, "And in addition to that?" or, "Is there anything else you see as essential to success in this position?
This process will not feel easy or natural at first, because it is easier simply to answer questions, but only if you uncover the employer's wants and needs will your answers make the most sense. Practice asking these key questions before giving your answers, the process will feel more natural and you will be light years ahead of the other job candidates you're competing with.
After uncovering what the employer is looking for, describe why the needs of this job bear striking parallels to tasks you've succeeded at before. Be sure to illustrate with specific examples of your responsibilities and especially your achievements, all of which are geared to present yourself as a perfect match for the needs he has just described.

What are your greatest strengths?

TRAPS:  This question seems like a softball lob, but be prepared. You don't want to come across as egotistical or arrogant. Neither is this a time to be humble.
BEST ANSWER:  You know that your key strategy is to first uncover your interviewer's greatest wants and needs before you answer questions. And from Question 1, you know how to do this.
Prior to any interview, you should have a list mentally prepared of your greatest strengths. You should also have, a specific example or two, which illustrates each strength, an example chosen from your most recent and most impressive achievements.
You should, have this list of your greatest strengths and corresponding examples from your achievements so well committed to memory that you can recite them cold after being shaken awake at 2:30AM.
Then, once you uncover your interviewer's greatest wants and needs, you can choose those achievements from your list that best match up.
As a general guideline, the 10 most desirable traits that all employers love to see in their employees are:
1.    A proven track record as an achiever...especially if your achievements match up with the employer's greatest wants and needs.
2.    Intelligence...management "savvy".
3.    Honesty...integrity...a decent human being.
4.    Good fit with corporate culture...someone to feel comfortable with...a team player who meshes well with interviewer's team.
5.    Likeability...positive attitude...sense of humor.
6.    Good communication skills.
7.    Dedication...willingness to walk the extra mile to achieve excellence.
8.    Definiteness of purpose...clear goals.
9.    Enthusiasm...high level of motivation.
10.    Confident...healthy...a leader.

What are your greatest weaknesses?

TRAPS:  Beware - this is an eliminator question, designed to shorten the candidate list. Any admission of a weakness or fault will earn you an “A” for honesty, but an “F” for the interview.
PASSABLE ANSWER:  Disguise strength as a weakness.
Example: “I sometimes push my people too hard.  I like to work with a sense of urgency and everyone is not always on the same wavelength.”
Drawback:  This strategy is better than admitting a flaw, but it's so widely used, it is transparent to any experienced interviewer.
BEST ANSWER:  (and another reason it's so important to get a thorough description of your interviewer's needs before you answer questions): Assure the interviewer that you can think of nothing that would stand in the way of your performing in this position with excellence. Then, quickly review you strongest qualifications.
Example:  “Nobody's perfect, but based on what you've told me about this position, I believe I' d make an outstanding match. I know that when I hire people, I look for two things most of all. Do they have the qualifications to do the job well, and the motivation to do it well?  Everything in my background shows I have both the qualifications and a strong desire to achieve excellence in whatever I take on. So I can say in all honesty that I see nothing that would cause you even a small concern about my ability or my strong desire to perform this job with excellence.”
Alternate strategy (if you don't yet know enough about the position to talk about such a perfect fit):
Instead of confessing a weakness, describe what you like most and like least, making sure that what you like most matches up with the most important qualification for success in the position, and what you like least is not essential.
Example:  Let's say you're applying for a teaching position. “If given a choice, I like to spend as much time as possible in front of my prospects selling, as opposed to shuffling paperwork back at the office.  Of course, I long ago learned the importance of filing paperwork properly, and I do it conscientiously. But what I really love to do is sell (if your interviewer was a sales manager, this should be music to his ears.)

Tell me about something you did – or failed to do – that you now feel a little ashamed of?

TRAPS:  There are some questions your interviewer has no business asking, and this is one.  But while you may feel like answering, “none of your business,” naturally you can’t.  Some interviewers ask this question on the chance you admit to something, but if not, at least they’ll see how you think on your feet.
Some unprepared candidates, flustered by this question, unburden themselves of guilt from their personal life or career, perhaps expressing regrets regarding a parent, spouse, child, etc.  All such answers can be disastrous.

 As with faults and weaknesses, never confess a regret.  But don’t seem as if you’re stonewalling either.
Best strategy:  Say you harbor no regrets, then add a principle or habit you practice regularly for healthy human relations.
Example:  Pause for reflection, as if the question never occurred to you.  Then say, “You know, I really can’t think of anything.”  (Pause again, then add): “I would add that as a general management principle, I’ve found that the best way to avoid regrets is to avoid causing them in the first place.  I practice one habit that helps me a great deal in this regard.  At the end of each day, I mentally review the day’s events and conversations to take a second look at the people and developments I’m involved with and do a doublecheck of what they’re likely to be feeling.  Sometimes I’ll see things that do need more follow-up, whether a pat on the back, or maybe a five minute chat in someone’s office to make sure we’re clear on things…whatever.”
“I also like to make each person feel like a member of an elite team, like the Boston Celtics or LA Lakers in their prime.  I’ve found that if you let each team member know you expect excellence in their performance…if you work hard to set an example yourself…and if you let people know you appreciate and respect their feelings, you wind up with a highly motivated group, a team that’s having fun at work because they’re striving for excellence rather than brooding over slights or regrets.”

Why are you leaving (or did you leave) this position?

TRAPS:  Never badmouth your previous industry, company, board, boss, staff, employees or customers.  This rule is inviolable:  never be negative.  Any mud you hurl will only soil your suit.
Especially avoid words like “personality clash”, “didn’t get along”, or others which cast a shadow on your competence, integrity, or temperament.
(If you have a job presently)
If you’re not yet 100% committed to leaving your present post, don’t be afraid to say so.  Since you have a job, you are in a stronger position than someone who does not.  But don’t be coy either.  State honestly what you’d be hoping to find in a new spot.  Of course, as stated often before, you answer will all the stronger if you have already uncovered what this position is all about and you match your desires to it.
(If you do not presently have a job.)
Never lie about having been fired.  It’s unethical – and too easily checked.  But do try to deflect the reason from you personally.  If your firing was the result of a takeover, merger, division wide layoff, etc., so much the better.
But you should also do something totally unnatural that will demonstrate consummate professionalism.  Even if it hurts , describe your own firing – candidly, succinctly and without a trace of bitterness – from the company’s point-of-view, indicating that you could understand why it happened and you might have made the same decision yourself.
Your stature will rise immensely and, most important of all, you will show you are healed from the wounds inflicted by the firing.  You will enhance your image as first-class management material and stand head and shoulders above the legions of firing victims who, at the slightest provocation, zip open their shirts to expose their battle scars and decry the unfairness of it all.
For all prior positions:
Make sure you’ve prepared a brief reason for leaving.  Best reasons:  more money, opportunity, responsibility or growth.

July 17, 2013

New Appointments......

1. Sujata Singh – New Foreign Sec. She succeeded Ranjan Mathai
2. Justice P Sathasivam - New CJI (Chief Justice of India). He Succeeded Altamas Kabir’s
3. Avinash Chander - New Defence Research and Development Organisation (DRDO Chief) replaced V. K. Saraswat
4. Infosys appoints Narayana Murthy as Executive Chairman
5. Sunil Soni – New Director General of Bureau of Indian Standards
6. Shashi Kant Sharma - New Comptroller and Auditor General (CAG) of India, replaced Vinod Rai.
7. Kushal Singh - New Chairperson of National Commission for Protection of Child Rights (NCPCR)
8. Justice Sanjay Kishan Kaul takes oath as new CJ of Punjab&Haryana high court
9. Sudha Sharma: New CBDT chief (Central Board of Direct Taxes). She succeeded Poonam Kishore Saxena
10. K R Kamath Re-Elected as the Chairman of Indian Banks'Association (IBA)
11. SK Roy New Chairman of Life Insurance Corporation
12. Asian Athletics Association') President's - Dahlan Jumaan Al- Hamad

New Cabinet Ministers:
1. Mr. Oscar Fernandes - Road and Highways Minister
2. Ms. Girija Vyas - New Housing, Urban Development and Poverty Alleviation Minister.
3. Mr. K.S. Rao - New Textiles Minister
4. Mr. SiS Ram Ola – New Labour and Employment Minister.
5. Mallikarjun Kharge: New Railway Minsiter Ministers of state
i. EMS Natchiyappan takes oath as MoS commerce and industry
ii. J D Seelam becomes MoS finance
iii.Manikrao Gavit gets social justice and empowerment
iv. Santosh Chowdhury gets health&family welfare

New Governor Appointed in different states:

1. Shriniwas Patil - Sikkim governor
2. K K Paul – Governor of Meghalaya replacing Ranjit Shekhar Mooshahary.
Najeeb Jung(Vice Chancellor of Jamai Milia University) –Lieutenant Governor of Delhi
3. Nirbhay Sharma - Governor Arunachal Pradesh
4. Narinder Nath Vohra - Governor of J&K for second term
5. BV Wanchoo: Governor of Goa
6. E S L Narasimhan - Governors of Andhra Pradesh
7. K Sankaranarayana n - Governors of Maharashtra
8. Ashwani Kumar - Governors of Nagaland
9. Dr. D.Y. Patil - Governors of Bihar
10. SC Jamir - Governors of Odisha
11. Nikhil Kunar - Governor of Kerala
12. Devanand Konwar - Governor of Tripura
13. Ratan Tata Appointed as Chief Advisor of AirAsia India
14. Subramanian Ramadorai Appointed Chairman of AirAsia India
15. Mittu Chandilya was named as the CEO of the AirAsia India
16. VK Duggal appointed as Nodal Officer for Relief and Rescue operations in Uttrakhand
17. Hariharan appointed Secy of Indian chess federation
18. Bimal Jhulka appointed I&B secretary. He succeeds U K Varma
19. Aruna Bahuguna - New Special Director General of the CRPF
20. K. Siddaramaiah - New CM of Karnataka replaced Jagadish Shettar

May 04, 2013

Do You Know? - Know the Unknown

                             Important facts about human body:

  • A yawn usually lasts for approximately six seconds.
  • Children who are breast fed tend to have an IQ seven points higher than children who are not.
  • Children grow faster in the springtime than any other season during the year.
  • Eating chocolate three times a month helps people live longer as opposed to people who overeat chocolate or do not eat chocolate at all.
  • Constipation is caused when too much water is absorbed in the large intestine and poops become dry.
  • A ear trumpet was used before the hearing aid was invented by people who had difficulty hearing.
  • The average human dream lasts only 2 to 3 seconds.
  • The average person has at least seven dreams a night.
  • Bile produced by the liver is responsible for making your feces a brownish, green colour.
  • It takes more muscles to frown than it does to smile.
  • By the time you are 70 you will have easily drunk over 12,000 gallons of water.
  • A man named Charles Osborne had the hiccups for approximately sixty-nine years.
  • The average person walks the equivalent of twice around the world in a lifetime.
  • The average person laughs about 15 times a day.
  • The vocabulary of the average person consists of 5,000 to 6,000 words.
  • About 10% of the world’s population is left-handed.
  • Soaking beans for twelve hours in water before they are cooked can reduce flatulence caused by beans.
  • Scientists say that babies that are breastfed are more likely to be slimmer as adults than those that are not breastfed.
  • Scientists have determined that having guilty feelings may actually damage your immune system
  • Research has indicated that approximately eleven minutes are cut off the life of an average male smoker from each cigarette smoked.

April 26, 2013

List of Jnanpith Awards - Past to Present

G. Sankara Kurup
Tarasankar Bandyopadhyay
Kuppali Venkatappagowda Puttappa
Sri Ramayana Darshanam
Umashankar Joshi
Sumitranandan Pant
Firaq Gorakhpuri
Viswanatha Satyanarayana
Ramayana Kalpavrikshamu 
(A resourceful tree: Ramayana)
Bishnu Dey
Smriti Satta Bhavishyat
Ramdhari Singh Dinkar
Dattatreya Ramachandra Bendre
Nakutanti (Naku Thanthi) (Four Strings)
Gopinath Mohanty
Vishnu Sakharam Khandekar
P. V. Akilan
Ashapurna Devi
Pratham Pratisruti
K. Shivaram Karanth
Mookajjiya Kanasugalu (Mookajjis dreams)
Sachchidananda Vatsyayan
Kitni Navon Men Kitni Bar (How many times in how many boats?)
Birendra Kumar Bhattacharya
Mrityunjay (Immortal)
S. K. Pottekkatt
Oru Desathinte Katha (Story of a land)
Amrita Pritam
Kagaj te Canvas
Mahadevi Varma
Masti Venkatesha Iyengar
Chikkaveera Rajendra (Life and struggle of Kodava King Chikkaveera Rajendra)
Thakazhi Sivasankara Pillai
Kayar (Coir)
Pannalal Patel
Maanavi Ni Bhavaai
Sachidananda Routray
Vishnu Vaman Shirwadkar (Kusumagraj)
For his contributions to Marathi literature
C. Narayana Reddy
Qurratulain Hyder
Akhire Shab Ke Humsafar
V. K. Gokak (Vinayaka Krishna Gokak)
Bharatha Sindhu Rashmi
Subhas Mukhopadhyay
Padatik (The Foot Soldier)
Naresh Mehta
Sitakant Mahapatra
For outstanding contribution to the enrichment of Indian literature, 1973–92
U. R. Ananthamurthy
For his contributions to Kannada literature
M. T. Vasudevan Nair
For his contributions to Malayalam literature
Mahasweta Devi
Hajar Churashir Maa
Ali Sardar Jafri
Girish Karnad
For his contributions to Kannada literature and for contributions to Kannada theatre (Yayati).
Nirmal Verma
Gurdial Singh
---Ardh channee rathni
Indira Goswami
Rajendra Shah
D. Jayakanthan
Vinda Karandikar
For his contributions to Marathi literature
Rehman Rahi
Subhuk Soda, Kalami Rahi and Siyah Rode Jaren Manz
Kunwar Narayan
Ravindra Kelekar
Satya Vrat Shastri
O. N. V. Kurup
For his contributions to Malayalam literature
Akhlaq Mohammed Khan 'Shahryar'
Amar Kant
Sri Lal Sukla
Chandrashekhara Kambara
For his contributions to Kannada literature
Pratibha Ray
Ravuri Bharadhwaja
For his contributions to Telugu literatureTelugu

April 09, 2013

Chief Minister and Governors of Indian States

                Chief Minister and Governors of Indian States - Latest
Name of States
Chief Minister
Andhra Pradesh 
Nallari Kiran Kumar Reddy
Shri. E. S. L. Narasimhan
Arunachal Pradesh
 Nabam Tuki
General (Rtd.) J.J. Singh
Shri Tarun Gogoi
 Shri. Janaki Ballav Pattanaik
Shri Nitish Kumar
 Sh Devanand Konwar
Dr. Raman Singh
Shri Shekhar Dutt
Shri Manohar Parrikar    
 Shri BV Wanchoo
 Shri Narendra Modi
 Dr. Kamla Beniwal
Shri Bhupinder Singh Hooda
Shri Jagannath Pahadia
Himachal Pradesh
 Prof. Prem Kumar Dhumal
Urmila Singh
Jammu Kashmir
Omar Abdullah
 Sh. N. N. Vohra
Arjun Munda
Dr. Syed Ahmed
 Shri Jagadish Shettar
 Shri H R Bharadwaj
Shri Oommen Chandy
Shri H R Bharadwaj
Madhya Pradesh
Shri Shivraj Singh Chouhan
 Ram Naresh Yadav
Shri Prithviraj Chavan
K. Sankaranarayanan
Shri Okram Ibobi Singh 
Sh. Gurbachan Jagat
Mukul Sangma
Sh. Ranjit Shekhar Mooshahary
 Lal Thanhawla 
 Shri Vakkom Purushothaman
Shri Neiphiu Rio
Shri Nikhil Kumar
Sh. Naveen Patnaik
Shri Murlidhar Chandrakant
Shri Parkash Singh Badal
Shri Shivraj Patil
Shri Ashok Gehlot
Smt. Margaret Alva
Shri Pawan Chamling
Sh. Balmiki Prasad Singh
Tamil Nadu
Sushree J. Jayalalithaa
Konijeti Rosaiah
Shri Manik Sarkar
 Dr. D Y Patil
Uttar Pradesh
Akhilesh Yadav  
Shri B L Joshi
Vijay Bahuguna
Aziz Qureshi
West Bengal
Km. Mamata Banerjee
Shri M. K Narayanan
                          Union territories – Chief ministers and governors

Chief minister

Mrs. Sheila Dikshit
Tajendra Khanna

 N. Rangaswamy
Iqbal Singh
Andaman & Nicobar

Bhopinder Singh


Shivraj V. Patil

Daman & Diu

Satya gopal



Dadra and Nagar Haveli

Satya Gopal