Brandalyzer

Sell-in: how many units of a product is a manufacturer selling into the retailer

Sell-out: how many units of a product is selling out to the customer (from the retailer)

Sell-through is the same as sell out. They just invented it to confuse you.

It’s the opposite end of the spectrum from engagement. The engaged employee is energized, involved, and high-performing; the burned-out employee is exhausted, cynical, and overwhelmed.

Research shows that burnout has three dimensions: emotional exhaustion, depersonalization, and reduced personal accomplishment. When you’re emotionally exhausted, you feel used up—not just emotionally, but often physically and cognitively as well. You can’t concentrate. You’re easily upset or angered, you get sick more often, and you have difficulty sleeping. Depersonalization shows up in feelings of alienation from and cynicism towards the people your job requires you to interact with. One of my coaching clients summed it up like this: “I feel like I’m watching myself in a play. I know my role, I can recite my lines, but I just don’t care.” What’s worse, although you can’t imagine going on like this much longer, you don’t see a feasible way out of your predicament.

It’s this third dimension of burnout — reduced personal accomplishment — that traps many employees in situations where they suffer. When you’re burned out, your capacity to perform is compromised, and so is your belief in yourself. In an insidious twist, employers may misinterpret an employee suffering from burnout as an uncooperative low performer rather than as a person in crisis. When that’s the case, you’re unlikely to get the support you desperately need.

Research shows that burnout occurs when the demands people face on the job outstrip the resources they have to meet them. Certain types of demands are much more likely to tax people to the point of burnout, especially a heavy workload, intense pressure, and unclear or conflicting expectations. A toxic interpersonal environment—whether it shows up as undermining, back-stabbing, incivility, or low trust—is a breeding ground for burnout because it requires so much emotional effort just to cope with the situation. Role conflict, which occurs when the expectations of one role that’s important to you conflict with those of another, also increases risk of burnout. This might happen, for example, when the demands of your job make it impossible to spend adequate time with your loved ones, or when the way you’re expected to act at work clashes with your sense of self.

If you think you might be experiencing burnout, don’t ignore it; it won’t go away by itself. The consequences of burnout for individuals are grave, including coronary disease, hypertension, gastrointestinal problems, depression, anxiety, increased alcohol and drug use, marital and family conflict, alienation, sense of futility, and diminished career prospects. The costs to employers include decreased performance, absenteeism, turnover, increased accident risk, lowered morale and commitment, cynicism, and reduced willingness to help others.

To get back to thriving, it’s essential to understand that burnout is fundamentally a state of resource depletion. In the same way that you can’t continue to drive a car that’s out of fuel just because you’d like to get home, you can’t overcome burnout simply by deciding to “pull yourself together.” Rebounding from burnout and preventing its recurrence requires three things: replenishing lost resources, avoiding further resource depletion, and finding or creating resource-rich conditions going forward. Many resources are vital for our performance and well-being, from personal qualities like skills, emotional stability, and good health, to supportive relationships with colleagues, autonomy and control at work, constructive feedback, having a say in matters that affect us, and feeling that our work makes a difference. Try these steps to combat burnout:

Prioritize taking care of yourself to replenish personal resources. Start by making an appointment with your doctor and getting an objective medical assessment. I encourage clients to take a lesson from the safety briefing provided at the beginning of every commercial flight, which instructs passengers to “secure your own oxygen mask before helping others.” In other words, if you want to be able to perform, you need to shore up your capacity to do so. Prioritize good sleep habits, nutrition, exercise, connection with people you enjoy, and practices that promote calmness and well-being, like meditation, journaling, talk therapy, or simply quiet time alone doing an activity you enjoy.

Analyze your current situation. Perhaps you already understand what’s burning you out. If not, try this: track how you spend your time for a week (you can either do this on paper, in a spreadsheet, or in one of the many apps now available for time tracking). For each block of time, record what you’re doing, whom you’re with, how you feel (e.g., on a scale of 1-10 where 0=angry or depressed and 10=joyful or energized), and how valuable the activity is. This gives you a basis for deciding where to make changes that will have the greatest impact. Imagine that you have a fuel gauge you can check to see what level your personal resources (physical, mental, and emotional) are at any moment. The basic principle is to limit your exposure to the tasks, people, and situations that drain you and increase your exposure to those that replenish you.

Reduce exposure to job stressors. Your condition may warrant a reduction in your workload or working hours, or taking some time away from work. Using your analysis of time spent and associated mood/energy level and value of activity as a guide, jettison low value/high frustration activities to the extent possible. If you find that there are certain relationships that are especially draining, limit your exposure to those people. Reflect on whether you have perfectionist tendencies; if so, consciously releasing them will lower your stress level. Delegate the things that aren’t necessary for you to do personally. Commit to disconnecting from work at night and on the weekends.

Increase job resources. Prioritize spending time on the activities that are highest in value and most energizing. Reach out to people you trust and enjoy at work. Look for ways to interact more with people you find stimulating. Talk to your boss about what resources you need to perform at your peak. For instance, if you lack certain skills, request training and support for increased performance, such as regular feedback and mentoring by someone who’s skilled. Brainstorm with colleagues about ways to modify work processes to make everyone more resourceful. For instance, you might institute an “early warning system” whereby people reach out for help as soon as they realize they’ll miss a deadline. You might also agree to regularly check in on where the team’s overall level of resources is and to take action to replenish it when it’s low.

Take the opportunity to reassess. Some things about your job are in your capacity to change; others are not. If, for example, the culture of your organization is characterized by pervasive incivility, it’s unlikely that you will ever thrive there. Or if the content of the work has no overlap with what you care about most, finding work that’s more meaningful may be an essential step to thriving. There is no job that’s worth your health, your sanity, or your soul. For many people, burnout is the lever that motivates them to pause, take stock, and create a career that’s more satisfying than what they’d previously imagined.

Unable to ship your products on time to your customers? Are your shipments returning to you after getting stuck atInter-State Checkpoints? Having difficulty in understanding the rules and finding the interstate shipping forms?

If these are the kind of questions that are troubling you with interstate shipping, then we have something incredibly awesome to share with you!

Logistics is crucial for any online store. Delivering your customers’ purchases on time reflects on your store’sefficiency and reliability. Delay in delivering the products is a risk you cannot afford as an online store entrepreneur.

But, living in a big country like India, rules change from State to State. Understanding these rules and finding the respective forms can be a very cumbersome task. That’s why, we bring you an exclusive table to help you sort out the necessary forms to be filled while scheduling a shipment.

 

   Interstate Shipping Forms and Requirements

Sr. No. List of destination State Business to Consumer (B2C) or Consumer to Consumer (C2C) Business to Business (B2B)
Type of statutory Levy Who is liable/ can pay statutory levy Road permit /paperwork requirement (INR) DOM paperwork exemption limit Status of statutory Levy Paperwork Requirement State VAT website
1 Andhra Pradesh Nil Shipper Invoice Nil
No Statutory levy is paid upfront
CI + VAT Form x/600 www.apct.gov.in
2 Andaman & Nicobar Nil Shipper Invoice Nil Shipper Invoice www.and.nic.in
3 Arunachal Pradesh Entry Tax Consignee CI +DG -01 (TPT doc) <10,000 CI + DG 01 www.arunachalpradesh.nic.in
4 Assam Entry Tax Consignee CI+Form 62 <20,000 CI + VAT Form 61 www.tax.assam.gov.in
5 Bihar VAT Consignee CI+ Form D IX – on line Nil CI + VAT Form D IX www.biharcommercialtax.in
6 Chandigarh Nil Shipper Invoice Nil Shipper Invoice www.chandigarh.gov.in
7 Chattisgarh Nil Shipper Invoice Nil CI & Declaration from Cnee www.comtax.cg.nic.in
8 Dadra & Nager Haveli Nil Shipper Invoice Nil Shipper Invoice www.dnh.nic.in
9 Daman & Diu Nil Shipper Invoice Nil Shipper Invoice www.daman.nic.in
10 Delhi Nil Shipper Invoice Nil CI + T2 www.dvat.gov.in
11 Goa Nil Shipper Invoice Nil Shipper Invoice www.goacomtax.gov.in
12 Gujarat Nil CI + VAT Form 403 Nil CI + VAT Form 403 www.commercialtax.gujarat.gov.in
13 Haryana Nil Shipper Invoice Nil Shipper Invoice www.haryanatax.com
14 Himachal Pradesh Entry Tax Consignee / Carrier Shipper Invoice Nil Shipper Invoice www.hptax.gov.in
15 Jammu & Kashmir Entry Tax Consignee / Carrier Shipper Invoice <5,000 CI + VAT From 65 www.jkcomtax.gov.in
16 Jharkhand Nil CI + VAT Form 502 Nil CI +VAT Form 504 G www.jharkhandcomtax.gov.in
17 Karnataka Nil Invoice & Declaration Nil CI + e-Sugam www.ctax.kar.nic.in
18 Kerala Nil CI + Form 16 <5,000 Shipper Invoice www.keralataxes.gov.in
19 Lakshadweep Nil Shipper Invoice Nil Shipper Invoice www.lakshadweep.nic.in
20 Madhya Pradesh Nil CI+ VAT Form 50 online Nil CI + VAT Form 49 online www.mptax.mp.gov.in
21 Maharashtra Octroi Carrier Shipper Invoice <150 Shipper Invoice + LBT/Octroi www.mahavat.gov.in
22 Manipur Nil CI + VAT Form 37 Nil CI + VAT Form 27 www.manipurvat.gov.in
22 Meghalaya Nil CI+ Special permit Nil CI + VAT Form 40 www.megvat.gov.in
23 Mizoram Nil CI + VAT Form 34 Nil CI+VAT From 33 www.zotax.nic.in
24 Nagaland Nil CI+ VAT Form 23 CI+ VAT Form 23 (online) www.nagalandtax.nic.in
26 Orissa Entry Tax* Consignee Shipper Invoice Nil CI+ VAT Form 402 (online ) www.odishatax.gov.in
27 Pondicherry Nil Shipper Invoice NA Shipper Invoice gst.puducherry.gov.in
28 Punjab Entry Tax Shipper Invoice Nil Shipper Invoice www.pextax.com
29 Rajasthan Entry Tax Consignee CI + Declaration Nil CI + VAT Form 47/47A ( online ) www.rajtax.gov.in
30 Sikkim Nil CI + VAT Form 26 Nil CI+ VAT From 25 www.sikkimtax.gov.in
31 Tamil Nadu Nil Shipper Invoice Nil Shipper Invoice www.tnvat.gov.in
32 Telangana Nil Shipper Invoice Nil CI + VAT Form x/600 www.tgct.gov.in
323 Tripura Nil CI+ VAT Permit CI+ VAT FROM XXIV www.taxes.tripura.gov.in
34 Uttar Pradesh Nil CI + VAT Form 39 Nil CI +VATe-sancharan comtax.up.nic.in
35 Uttrakhand Nil CI + Vat Form 17 <5,000 CI + VAT Form 16 comtax.uk.gov.in
36 West Bengal Entry Tax* Carrier Shipper Invoice + VAT Form 50A Nil CI + VAT Form 50A www.wbcomtax.nic.in

From this table, find the State to which you are shipping your products. Cross check the conditions to know what form is required. Get the forms from the links given in the table. The links to the state government have been provided in the table.

How and when do you use these forms?

You will need to provide the filled forms to the person arriving for the pick up. The logistic company will produce this form for you at the check points. Rest assured, as your products travel safe to reach your customers at far off places.

Thus, you can now send your products to your lovely customers with ease and make sure the shipments don’t return because of a lack of documents. Happy selling! 🙂

Did we miss anything? Do let us know.

VAT — Value-Added Tax — is the biggest tax reform in the last 50 years of independent India and will change forever the way traders do their business.

But do you understand VAT? Don’t you need advice on the new VAT laws and how they affect your business? No need to worry, help is at hand.

Kul Bhushan, a newspaper editor — with over 30 years of experience — who specialises in presenting complicated economic and business issues in simple, reader-friendly language, has come up with a book — How To Deal With VAT — which addresses all the questions you may have about this tax.  The book has a foreword by Finance Minister P Chidambaram.

Here’s an extract from the book explaining how VAT works.

Some VAT registered traders may overcharge their customers because they do not understand the correct workings of VAT on prices or are deliberately using VAT as an excuse for increasing prices.

A trader registered for VAT effectively pays VAT only at one stage when he sells his goods.

This tax is the only amount, which has an effect on his selling price which includes VAT. The VAT that he has paid as a part of his purchase price is charged on him by his suppliers.

This is not a cost to him because he gets it back by deducting it from tax on his sales (Output Tax). Therefore, VAT should have a minimum impact on his selling prices.

If you supply designed goods and your annual ‘taxable turnover’ is more than Rs 5 lakh, you become a taxable person and must register for VAT.

Your taxable turnover is the total value of all taxable supplies (including ‘zero-rated supplies’) made in India or imported into India while increasing your business. ‘Exempt supplies’ do not count towards your taxable turnover. Both ‘zero-rated supplies’ and ‘Exempt supplies’ are listed in the VAT Schedules.

If you supply Vatable goods, the ‘taxable turnover’ that must be taken into account is the combined turnover of both these activities.

If you are a Vatable person, you must charge VAT whenever you make a taxable supply. The supply is your output and the tax you charge is your Output Tax. Similarly, the purchase is your input and the tax you pay is the Input Tax.

VAT Returns

VAT Returns are filed every month or every quarter depending on the amount of VAT you pay. The normal rule is that if you pay less than Rs 15,000 for VAT every month, a VAT Return is to be filed every quarter.

It is all at the discretion of the VAT officer. At monthly or quarterly intervals on your VAT Return, you should subtract your Input Tax (attributable to taxable supplies only) from your Output Tax and pay the difference to the VAT Commissioner.

If your Input Tax is greater than your Output Tax you can carry over the difference as a credit to your next VAT Return. In certain circumstances, the Commissioner may pay you any excess if he is satisfied that suchan excess is a regular feature of your business.

Issuing Tax Bills and Invoices

According to VAT law, you cannot sell any goods without a sales document. This document can be a small cash memo or a cash sale or a bill for cash transactions issued at, or before, the time when the cash is received.

The prices mentioned on these sale documents should include VAT and the words ‘Price includes VAT’ must be printed on them. These documents are suitable for retailers such as grocers and chemists.

You must give the original to the customer and keep a duplicate. At the end of each business day, you can total the cash sales and enter it in your Sales Ledger.

For selling on credit, you are required to provide the purchaser with a tax invoice at the time of supply in respect of that supply. When you receive a deposit as advance payment for a booking, a tax invoice should be issued at the time such deposit is received.

All tax invoices should be serially numbered and issued in serial number order. They must include the following information:

  • Your name, address, TIN.
  • Serial number of the invoice
  • Date of the invoice
  • Date of the supply, if different from invoice date
  • Name and address of the person to whom the supply was (will be) made
  • Description, quantity and price of the goods and services being supplied or to be supplied (in case of deposit)
  • Rate and amount of VAT charged on each of these goods and services
  • Details of whether the supply is a cash or credit sale
  • Details of cash or other discounts, if any, that apply to the supply
  • The total value of the supply and total amount of VAT charged
  • Number of the vehicle transporting these goods, if applicable
  • The customer’s PAN must be shown if the sale is over Rs 50,000.

However, if you are a retailer or you are primarily supplying taxable goods to unregistered persons, you will be required to issue a simplified tax invoice.

Simplified Tax Invoices

All simplified tax invoices shall be serially numbered and shall be issued in the order of the serial number. They must include the following information:

  • Your name, address and TIN
  • Serial number of the invoice
  • Date of the invoice
  • Brief description of the goods and services supplied.
  • Total amount charged to the customer including VAT and
  • A clear statement that the price includes VAT.

Value for Tax

The value for tax of a supply is the consideration or money paid. Consideration for a supply includes payment in money and / or in kind for the supply. The value for tax will be:

The full money value paid for the supply where consideration is wholly an amount of money, i.e., the value less any discounts allowed. Instalment payment do not affect the tax value or the point. Tax is due in full at the time of supply on the full (net) value of the article in question.

Open market value of the goods in question where consideration is not wholly an amount of money. This is the price, excluding VAT, which customers ordinarily have to pay for a supply if money was the only consideration.

Value for duty plus the duty — for imported goods at the time gods – cleared for use into the country or at the time of removal from warehouse.

Financial charges incurred by a person who purchases taxable goods on hire purchase business are excluded from the taxable value.

Similarly, interest incurred from late payment of the price of a taxable supply of goods is excluded from taxable value.

How VAT is Misused

Let us take two examples to understand the working of VAT.

Example A shows the pricing structure of a trader who uses VAT as an excuse for overcharging his customers.

Example B shows the pricing structure of a trader who does not use VAT as a tool for price escalation. For both examples, the relative data is:

  • Basic purchase of goods: Rs 10,000
  • 12.5 per cent VAT of the basic purchase price: Rs 1,250
  • Overheads related to the goods: Rs 100
  • Profit margin 20 per cent.

 

Example A (Rs)
Basic purchase price 10,000
Add 12.5 per cent VAT 1,250
VAT inclusive purchase price 11,250
Add overheads 100
Total 11,350
Add 20 per cent profit margin 2,270
Basic selling price 13,620
Add 12.5 per cent VAT 1,703
VAT inclusive selling price 15,323

 

Example B (Rs)
Basic purchase price 10,000
Add 12.5 per cent VAT 1,250
VAT inclusive purchase price 11,250
Less VAT input 1,250
VAT free purchase price 10,000
Add overheads 100
Total 10,100
Add 20 per cent profit margin 2,020
Total 12,120
Basic selling price 13,620
Add 12.5 per cent VAT 1,515
VAT inclusive selling price 13,635

The VAT of 12.5% is charged on the ‘Total’. Thus the VAT inclusive selling price will be ‘Total’ + ‘VAT.’

You will note that in Example A, the trader has overcharged his customer to the extent of Rs 1,688. Thus a trader is advised to adopt Example B as a guideline and nt overcharge the consumer. If he does, he will lose his customers before long.

VAT Account

You are required to maintain a VAT account as part of your records. This should have details of your Output Tax, Input Tax and under or over declaration in the previous VAT accounting period(s).

A specimen of such a VAT account is given below.

VAT Accounting for Filing VAT Return for April to June 2005
 

Purchases (in Rs )
Period Purchases Input VAT paid Total Total
April-June 100,000.00 12,500.00 112,500.00

 

Sales (in Rs )
Period Purchases Input VAT paid Total Total
April-June 120,000.00 15,000.00 135,000.00

Hence, VAT to be paid is Output VAT less Input VAT or Rs 15,000 – 12,5000 = 2,500.

VAT Accounting with Opening Stock for April to June 2005
(As per the guidelines of VAT White Paper of 17 January 2005.)

 

Opening Stock on 1 April 2005 Rs 500,000
Less Tax Free Stock Rs 300,000
Balance Rs 200,000
Sales Tax @ 10% paid before VAT Rs 20,000


This credit of Rs 20,000 has to be carried forward in VAT account shown below.
 

Purchases (in Rs )
Period Purchases ST paid Input VAT paid
Opening stock 500,000.00 20,000.00
April-June 100,000.00 12,500.00
Sales (in Rs )
Period Sales Input VAT paid Total
Opening stock 120,000.00 15,000.00 135,000.00

Hence, the credit of Sales Tax paid on opening stock (Rs 20,000) can be claimed in addition to Input Tax payable for VAT of 12,500.

This means the total tax paid (Sales Tax + VAT) will be Rs 20,000 + 12,500 = Rs 32,500.

In filing the VAT Return, the VAT payable is Rs 15,000 as per sales record.

This has to be deducted from the total tax paid of Rs 32,500, leaving a balance of Rs.17,500 to be claimed in the next VAT Return.

VAT Accounting For Inter-State Supplies and Taxes

Raw materials supplier in Mumbai sells to manufacturer in Delhi.
 

Delhi manufacturer Rs
Cost Price 10,000
Central Sales Tax @ 4% 400
Total Cost 10,400


Delhi manufacturer cannot claim central Sales Tax @4% of Rs 400 against Form C. hence his cost price will increase by Rs 400.

 

Rs
Manufacturer’s Cost Price 10,400
Value Added 2,000
Selling Price 12,400
VAT 1,550
Cost 13,950

Manufacturer pays VAT of Rs 1,550.00.

 

Rs
Wholesaler’s Cost Price 12,400
Value Added 2,000
Selling Price 14,400
VAT @ 12.5% 1,800

Wholesaler pays VAT of Rs 250. This is arrived at by deducting Rs 1,550 that he paid to manufacturer from Rs 1,800 that he collected brown i.e., 1,800.00 – 1,550.00 = 250.00.
 

Rs
Retailer’s Cost Price 14,400
Value Added 2,000
Selling Price 16,400
VAT @ 12.5% 2,050

Retailer pays VAT of Rs 250. This is arrived at by deducting Rs 1,800 that he paid to manufacturer from Rs 2,050.00 that he collected, i.e., Rs 2,050-1,800 = 250.

 

Rs
Customer Price 16,400
VAT @ 12.5% 2,050
Price with VAT 18,450

Cross Checking

Total VAT paid will be Rs 1,550 (Manufacturer) + 250 (Wholesaler) + 250 (Retailer) = Rs 2,050.

Empathy helps you understand what a prospective donor is feeling. 

Perspective helps you understand why they are feeling it.

Empathy keeps relationships on track.

Empathy helps you remember that your supporter lives on the west coast while you are on Eastern time. Thanks to your empathy you’ll avoid calling her when you first get to the office at 8 am (5 am for her). In that case empathy is a very good thing to have.

Perspective is more intellectual.

Perspective-taking is exclusively the process of taking an alternate point-of-view. With perspective you can understand your supporters’ viewpoints, needs, desires, goals and aspirations. If the need is urgent and you know that the supporter has been waiting for an opportunity to fund (for example) an airlift to rescue dozens of refugees in a far off land, then you will call and awaken her at 5 am. Your perspective assures you that the donor will be happy you did.

However, the perspective-taking process does not necessarily lead to feelings of empathy.

Debit Note Vs Credit Note

Purchasing and Selling of goods are very common in day to day life, and in the same way, returns of goods are also a very usual thing nowadays. Debit Note and Credit Note are used while the return of goods is made between two businesses.

Debit Note is issued by the purchaser, at the time of returning the goods to the vendor, and the vendor issues a Credit Note to inform that the returned goods have been received by him. People are quite puzzled when they are asked to distinguish the two terms. So, here in this article we are going to explain you the differences between a Debit Note and Credit Note.

DebitCreditNote.png

Debit Note

It is a note issued by the vendor making the supply in the case where the consideration for the supply is increased after an invoice has already been issued. This can be the result of, amongst others; the reduced rate of VAT being used instead of a standard rate of tax (14%), a wrongly reduced quantity of goods is invoiced etc.

The debit note should contain the following information:

  • the words ‘debit note’ in a prominent place;
  • the commercial name, postal address, physical address, Taxpayer Identity Number of the vendor making the supply;
  • the commercial name, postal address, physical address, Taxpayer Identification Number of the vendor receiving the supply;
  • the date of issue of the debit note;
  • a brief explanation of the circumstances which gave rise to the issue of the debit note;
  • sufficient information to identify the taxable supply to which the debit note relates;
  • the taxable value of the supply shown on the VAT invoice, the correct taxable value, the difference between the two amounts and the VAT relating to the difference (that is, the VAT overcharged).

Credit Note

It is a note issued by the vendor making the supply in the case where the consideration for the supply is reduced after an invoice has already been issued. This can be the result of, amongst others, cancellation of the supply, a discount offer etc.

The credit note should contain the following information:

  • the words ‘credit note’ in a prominent place;
  • the commercial name, postal address, physical address, Taxpayer Identity Number of the vendor making the supply;
  • the commercial name, postal address, physical address, Taxpayer Identification Number of the vendor receiving the supply;
  • the date of issue of the credit note;
  • a brief explanation of the circumstances which gave rise to the issue of the credit note;
  • sufficient information to identify the taxable supply to which the credit note relates;
  • the taxable value of the supply shown on the VAT invoice, the correct taxable value, the difference between the two amounts and the VAT relating to the difference (that is, the VAT overcharged)

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