RAMA’S ANUBHAV

1. RAMA’S ANUBHAV APRIL 2019

2. INDEX 1. Editorial……………………………..…..…………………………………………………….………..03 Mr. Nitin Champawat 2. Robotic Process Automation (RPA) - The Impact on Internal Audit..........05 Mr. Vikas Gupta 3. ­­­­­­Why You Should Set Automatic Cost Adjustment to Never in Dynamics 365 Business Central………………………………………………………………………………………………..…..07 Mr. Vipul Parmar 4. New Proposed Returns - “Sahaj” and “Sugam” ……………………………………09 Mr. Harshil Mehta 5.Special Article- Hard work…………………………………………………………………..11 Mr. Callistus Dabre 6.Women Empowerment…………….………………………………………….……....…...13 Mr. Abhishek Panegal 7.Documents Required for GST Registration….…………………………………..……15 Ms. Jagruti Patil 8.Moments To Celebrate……………….……………………………..………..…………..…14 Ms. Anjali Singh Priya Mishra– Editor, Communicator/ Nammika Giddi - Creative & Art work

3. Editorial Dear Friends, Hope you all doing great and must have enjoyed the festival of colours. May this year brings more colours to everyone’s lives. This is my first editorial write up in RAMA Anubhav. It feels great to communicate with all of you through this medium. RAMA Anubhav is the best Platform of sharing information across verticals of the organisation. I think Self-Confidence is one of the key factors to one’s success so I will be touching upon the importance of self-confidence and also highlight a few tips of confidence building in life. Confidence: Confidence and self-belief stems from positive thinking, positive friendships and relationships, plenty of practice and, in some cases, training. Although we aspire to have more of both confidence and self-belief, we often struggle to find or obtain these traits. We demonstrate the confidence and belief we have in ourselves in a number of ways; our behaviour, our mood and even how we carry ourselves. It’s common for individuals who lack self-belief and self-confidence to find certain areas of their life affected. obstacles by enabling you to do things with the incredible power of your mind. A negative attitude, on the other hand, will create negative actions, feelings, reactions, and low confidence. The advantage of any technique based on a positive mental attitude is simple: you don’t need to know the outcome of an action in order to perform, you simply need to believe you can and your body will loyally follow. This may not always happen immediately and will take a lot of practice, but is a proven technique that can produce results. Relationships can break down, careers can stale, lifestyle can become unbalanced and a positive state of mind can be undermined unless some action is taken to improve these qualities. The benefits of a positive mental attitude: There are plenty of ways to improve your self-confidence and the main thing to remember is that you need to truly believe in yourself in order to start making the changes you strive for. If you lead with positive thoughts, you’re more likely to accomplish your goals. Most improvement techniques for self-confidence are based around the power of the mind and body working in harmony: a positive mental attitude will help you overcome many

4. Editorial Confidence at work: Being confident at work is crucial for career success: from just starting out or running a company, confidence is key in most occupations. Having a strong sense of self-belief will affect how you communicate with colleagues, as well as how effective you are in your output and your enjoyment of your job. Being confident in the workplace enables you to be situationally proactive, assertive and focused. Having true confidence not only allows you to have a positive impact at work, but it also helps you make choices that will benefit your home life too. Confidence building tips To help build your confidence, you can practice these five tips. 1. Work to remove negativity from your life If you have constant negative feelings towards yourself and doubt your abilities, evaluate your inner circle of friends and family. It can be tough, but if those closest to you are the cause of your lack of confidence, you may have to step back from those relationships. Even a temporary break can offer a real positive step towards confidence building. 2. Change your body language You can slowly start confidence 5. For particularly tough instances, create lists Sometimes life can be overwhelming, making it difficult to keep up our self-belief. In that case, try to make one list of all the things you are grateful for, and a separate list of all the things you are proud of accomplishing (no matter how small). Once complete, pin the lists up somewhere you will regularly see them. This will remind you what a great life you already lead - it can be especially powerful when your self-confidence is waning. I hope these tips will help you to improve self-confidence and become more successful in your future endeavours of life. I sincerely thank RAMA HR team for giving me such a great opportunity to express my views on this platform. -Nitin Champawat building by changing your body language. This starts with your posture, eye contact and smiling. A simple smile with your shoulders back emanates confidence. Smiling will not only make others more comfortable around you, but it can also make you feel better too. Try to imagine a person who is smiling with good posture - this person looks self-confident. 3. Avoid accepting failure Don’t give up and accept failure. You are able to find a solution for nearly everything, so why would you want to throw in the towel? Succeeding through perseverance can be one of the best confidence boosters. 4. Be prepared Whatever you’re facing next, learn everything there is to know about the subject. If you are prepared and knowledgeable, you will feel confident and brave.

5. ROBOTIC PROCESS AUTOMATION (RPA) - The Impact on Internal Audit • What is RPA? • RPA is not a physical “Robot” but a configurable software that sits on top of a company’s existing IT infrastructure pulling data, performing algorithms, and creating reports. • The “Robot” is configured to complete the same process steps, follow the business rules, and use the same systems that a human does today. • The initial implementation of RPA can happen in weeks and typically delivers an ROI of greater than 5:1, often recouping the investment in the first year. • What are the Key RPA Value Drivers? Opportunities Mapping by Process

6. ROBOTIC PROCESS AUTOMATION (RPA) - The Impact on Internal Audit • How Can RPA Be Applied to Internal Control? • RPA can be applied where there are a high volume of Routine, Labour Intensive and Mundane Activities performed on a day to day basis by the 3 lines of defence:  • Operate a control based on a predefined frequency, acting as a Control Operator. • Evaluate a control’s operating effectiveness by performing periodic control self-evaluations, acting as a Control Owner (1st line of defence). • Evaluate a control’s operating effectiveness by performing periodic management testing of control effectiveness, acting as an Internal Control Tester (2nd line of defence). • Evaluate a control’s operating effectiveness by performing periodic independent testing of control effectiveness, acting as an Internal Audit Tester (3rd line of defence). • Example of RPA Utilization in Bank Reconciliation? 

7. ROBOTIC PROCESS AUTOMATION (RPA) - The Impact on Internal Audit •  This All Sounds Good But What About the Risks? • Overarching governance framework for adoption of RPA and alignment to risk, compliance and IT/data frameworks. • Have we selected the right processes? • Have we optimized processes before we automated? • Are all upstream & downstream linkages known?  • Management and ongoing support and maintenance of robots • Who will oversee robot operations? • How do we manage changes? • Have we developed a recovery plan? • Privacy and Data Protection • Heightened risk of privacy breaches that occur through technology innovations • Currently, no specific guidance on RPA companies • Take reasonable steps to implement practices, procedures, and systems that will ensure privacy compliance • What vendor management provisions will you establish and maintain to verify how data might be accessed?  • Risk of missing rules • Basic RPA can only do what it’s been told to do. Often humans follow innate rules that are without conscious thought applied, decisions just make natural sense to the human operator and aren’t documented.  • Processes are not mapped correctly • Automated activities may be incorrectly performed or incomplete. Automating an inefficient or poorly controlled process only amplifies the issue. • Natural human safeguards removed • Where there are many transactions and many users, errors may often not be widespread across the business process. With automation, if you get it wrong, you consistently get it wrong. • -Vikas Gupta

8. Why You Should Set Automatic Cost Adjustment to Never in Dynamics 365 Business Central • Overview • This was one of the topic that came up frequently while working with end users. • Steps on how Automatic Cost Adjustment should be done for Inventory Setup. • Arguments for setting Automatic Cost Adjustment to Always • There is always a desire to set this property to Always. And why not? Instead of running the Adjust Cost – Item Entries manually, why not let the system run the process every time? • Setting the Automatic Cost Adjustment to Always allows you to have updated and accurate cost all times. This sounds great! • Arguments Against setting the Automatic Cost Adjustment • • Performance – During posting, your users will experience delays. How significant this is will depend on how large your database is. • • Locking issues – Dynamics Business Central will lock the ledger entry tables during posting of orders. In addition, it will lock tables when it runs the adjust cost process. Because of the stress on • However, for a manufacturer or a high transactional volume distributor, you will cause more harm to your environment than not. This is exponentiated if you’re using reservation or serial/lot tracking. • The Alternative • Instead of running the Adjust Cost – Item Entries process during every single transaction posting. Why not have the process run during off hours? One of the first things we do for our client after explaining the importance of Adjust Cost – Item Entries is to setup the adjust cost process as job queue to be ran at night when the load on the system is light. the performance above, the users will experience more locking problems throughout the day as people are posting. If you’re experiencing this now, try setting the Automatic Cost Adjustment to Never. • Allow Posting from Error – There are some instances where the adjust cost will want to post adjustments into prior periods. Depending on what you setup for your Allow Posting From on the General Ledger Setup and/or on the User Setup, you’ll run into these errors. If you’re running a micro business with few inventory transactions, setting it to always will make sense.

9. Decoding GST's future course in India This will prevent locking up users as well as give the system a faster response when they’re doing their daily task. Who doesn’t want a system that’s responsive and allow you to do as much as possible within a shorter amount of time? • Conclusion • In every instance, it is better to set the Adjust Cost process to run automatically on the job queue which will give the end user the best possible experience working with the system and avoid any further delay. • -Vipul Parmar

10. New Proposed Returns - “Sahaj” and “Sugam” Recently in 28th GST Council Meet, the Council has announced three new GST return forms namely Normal (RET-1), Sahaj (RET-2), Sugam (RET-3) for the taxpayers across the country. These new forms are released to ease the burden of return filing and are on a pilot basis from 1st April 2019 and will be fully implemented from July 2019 mandatorily. Sahaj Return: It is a simplified one-page GST summary return that is introduced. Taxpayers with • a turnover of up to Rs. 5 crores in the last financial year and who are in the B2C supplies may opt to file this return. • However, payments of tax have to be made monthly through a challan. A taxpayer who has made supplies to consumers and un-registered persons in the domestic market can only opt to file this return. • Sugam Return: It is a proposed returns form which is introduced by the GST Council to simplify GST compliance. A taxpayer with a • turnover of up to Rs.5 crores in the financial year will get an option to file this return. This form will be made available to only those small taxpayers engaged in both B2B and B2C supplies in India. In the 28th GST council meeting, members approved quarterly GST returns filing for small taxpayers with a turnover of up to Rs. 5 crores. However, the tax is to be paid monthly via a challan. Harshil Mehta

11. Special Article- Hard Work “Don’t wish it were easier. Wish you were better.” – Jim Rohn People say fail to practice & practice to fail. In a field like Chartered Accountancy we should practice the things we cannot do 3 times longer than the things we can do. We should work towards converting our weaknesses into strengths. Greatness isn’t handed to anyone, it requires a lot of dedication. The best people in any field are those who devote most hours to their craft. So, if you can put in the hard work, you’ll blow open a huge gap in the field of competition & give yourself an instant head start over your competitors. Thomas Jefferson once aptly remarked “If you want something you’ve never had, then you’ve got to do something you’ve never done.” So, when any of you thinks about motivation, remember success is the best comeback. And there’s only one sure shot way to succeed: Hard Work. Don’t let the past few days, weeks, months or years of failure put a question mark on your abilities. Your life and career live on for multiple decades. In the world full of one-time hits and box office bombs work for your movie to be an all-time blockbuster. -Callistus Debre

12. Women Empowerment Women empowerment implies the ability in women to take decisions with regard to their life and work and giving equal rights to them in all spheres like: personal, social, economic, political, legal and so on. Women empowerment is the much-talked about issue today. Women are increasingly getting empowered to decide the course of their life and professions and realize their fullest potential. We are providing here four articles on women empowerment useful for all people especially for students. All the articles are written in simple English language with different word counts of 300, 500, 600 and 800 respectively. Women Empowerment: Winds of Change Women empowerment has become the buzzword today with women working alongside men in all spheres. They profess an independent outlook, whether they are living inside their home or working outside. They are increasingly gaining control over their lives and taking their own decisions with regard to their education, career, profession and lifestyle. With steady increase in the • making their voices heard loud and clear in society. They are no longer willing to play a second fiddle to their male counterparts. Educated or not, they are asserting their social and political rights and making their presence felt, regardless of their socio-economic backgrounds. • While it is true that women, by and large, do not face discrimination in society today, unfortunately, many of them face exploitation and harassment which can be of diverse types: emotional, physical, mental and sexual. They are often subjected to rape, abuse and other forms of physical and intellectual violence. • Women empowerment, in the truest sense, will be achieved only when there is attitudinal change in society with regard to womenfolk, treating them with proper respect, dignity, fairness and equality. The rural areas of the country are, by and large, steeped in a feudal and medieval outlook, refusing to grant women equal say in the matters of their education, marriage, dress-code, profession and social interactions. • Let us hope, women empowerment spreads to progressive as well as backward areas of our vast country. And let’s hope for a better tomorrow. • -Abhishek Panegal number of working women, they have gained financial independence, which has given them confidence to lead their own lives and build their own identity. They are successfully taking up diverse professions to prove that they are second to none in any respect. But while doing so, women also take care to strike a balance between their commitment to their profession as well as their home and family. They are playing multiple roles of a mother, daughter, sister, wife and a working professional with remarkable harmony and ease. With equal opportunities to work, they are functioning with a spirit of team work to render all possible co-operation to their male counterparts in meeting the deadlines and targets set in their respective professions. Women empowerment is not limited to urban, working women but women in even remote towns and villages are now increasingly

13. Documents Required for GST Registration • voter’s identity card and ration card can be submitted. • Proprietary Concern – Proprietor • Partnership Firm / LLP – Managing/Authorized/Designated Partners (personal details of all partners are to be submitted but photos of only ten partners including that of Managing Partner are to be submitted) • Hindu Undivided Family – Karta • Company – Managing Director, Directors and the Authorised Person • Trust – Managing Trustee, Trustees and Authorised Person • Association of Person or Body of Individual –Members of Managing Committee (personal details of all members are to be submitted but photos of only ten members including that of Chairman are to be submitted) • Local Authority – CEO or his equivalent • Statutory Body – CEO or his equivalent • Others – Person(s) in Charge Business Registration Document Proof of business registration must be submitted for all types of entities. For proprietorships there is no requirement for submitting this document, as the proprietor and proprietorship are considered the same legal entity. In case of partnership firm, the partnership deed must be submitted. In case of LLP or Company, the incorporation certificate from MCA must be submitted. For other types of entities like society, trust, club, government department or body of individuals, registration certificate can be provided. Address Proof for Place of Business For all places of business mentioned in the GST registration application, address proof must be submitted. The following documents are acceptable as address proof for GST registration. For Own premises Any document in support of the ownership of the premises like latest Property Tax Receipt or Municipal Khata copy or copy of Electricity Bill. Any person or entity providing taxable supply of goods or services to persons in India with an annual aggregate turnover of more than Rs. 20 lac is required to obtain GST registration. In some special category states like Assam, Nagaland, Manipur and other, the aggregate turnover criteria have been reduced to Rs. 10 lac. Other than the aggregate turnover criteria, a person could be required to obtain GST registration, if they undertake inter-state supply of goods or services or have an existing VAT or service tax or central excise registration. The following persons are required to submit their identity proof and address proof along with photographs. For identity proof, documents like PAN, passport, driving license, Aadhaar card or voter’s identity card can be submitted. For address proof, documents like passport, driving license, Aadhaar card,

14. Documents Required for GST Registration For Rented or Leased Premises A copy of the valid rental agreement with any document in support of the ownership of the premises of the Lessor like Latest Property Tax Receipt or Municipal Khata copy or copy of Electricity Bill. If rental agreement or lease deed is not available, then an affidavit to that effect along with any document in support of the possession of the premises like copy of electricity bill is acceptable. SEZ Premises If the principal place of business is located in an SEZ or the applicant is an SEZ developer, necessary documents/certificates issued by Government of India are required to be uploaded. All Other Cases For all other cases, a copy of the consent letter of the owner of the premises with any document in support of the ownership of the premises of the Consenter like Municipal Khata copy or Electricity Bill copy. For shared properties also, the same documents can be uploaded. Bank Account Proof • Scanned copy of the first page of bank passbook or the relevant page of bank statement or scanned copy of a cancelled cheque containing name of the Proprietor or Business entity, Bank Account No., MICR, IFSC and Branch details including code. • Digital Signature • All application for GST registration must be digitally signed with a class 2 digital signature . Hence, its important that digital signature be obtained for the following person who is authorised to sign the GST registration application before beginning the application process. • -Jagruti Patil

15. Moments to Celebrate Mr. Kunal Jadhav – 13th April Mr. Kartik Dave Ms. Mahima Oza Mr. Sagar Udar Mr. Keshav Jhanwar

16. Thank You & Goodbye Until Next Time Visit us at: www.rama.co.in / www.ramaerp.in Dubai: M-01,Bank Street Building, Next to Citibank, Bur Dubai, P.O. Box: 120349, Dubai, UAE. Ph: +971 4 354 5186 / +971 4 352 9466 Mumbai: Unit 401, Hub Town Viva, Jogeshwari East, Shankarwadi Mumbai - 400060 Contact: +91 22 6223 1063 / 1060 www.linkedin.com/company/ram-agarwal-&-associates-chartered-accountants www.facebook.com/ramaitllp/