Construction Industry Solutions – What CIS Can Do For Your Business

Pegasus Construction Industry Solutions is a piece of software specifically designed for the construction and allied industries. It gives you complete control over all aspects of contract management, costing, timesheets through to payment applications and VAT invoicing plus much more.This industry suffers from severe cost overruns and finds it hard to work within a strict deadline, demonstrating that the need for a driven software is extremely overdue. This software is needed to ensure that tasks and projects are delivered on time and done so within budget.It conforms to the legislations that are set out by the HM Revenue and Customs, otherwise known simply as HMRC. One important function of the software is that the subcontracts ledger combines the function of the purchase ledger with the regulations and requirements of HMRC’s Construction Industry Scheme. This ensures that subcontractor payments can be entered and when the payment is approved it is possible to produce a payment certificate, which can be sent to the subcontractor along with payment.One thing that needs to be kept in mind however when it comes to this software is the new legislations that are now in place regarding tax returns. The main aim of changing the legislation when it comes to this sector is to encourage companies to submit their tax returns online. This comes as a disadvantage as systems and software will need to be updated to conform to the new legislations. These changes are as follows:oCIS Cards and Certificates will no longer be used, instead contractors must verify that any new subcontractor is registered with HMRC. This can be done online.oSubcontractors will still be paid net or gross of tax, but HMRC will specify which, as part of the verification process.oThere is also a higher rate tax deduction of 30% that can be assigned to subcontractors if they cannot be matched to records on the HMRC system, as part of the verification process.oVouchers and Year End returns will no longer be required; these will be replaced with a CIS300 Monthly Return which can be filed online, on paper or as an electronic submission. This details payments and deductions made to all subcontractors. Even when there have been no payments made to subcontractors in a month, nil returns must be made.oThe CIS300 Monthly Return requires a declaration to be signed that states that the contractor has checked the employment status of each subcontractor, and that payments have not been made under contracts of employment.oMost subcontractors that are registered under the existing CIS rules will automatically be transferred over to the new system and will not need to re-register.oFailure to submit the CIS300 Monthly Return on time will result in a penalty being charged, based on the number of subcontractors on the late return. This penalty repeats for each month that the return is late. A late submission of a nil return automatically attracts a £100 penalty. HMRC also states that if the return is received back late, the contractor’s own gross status as a subcontractor may also be at risk.

Education Graph in India

With lot of learned men passing through the intellectual land of India, it would not be wrong to say that India is a gifted land of knowledge and learning. With the ancient Nalanda- the globally famous University in Bihar, the trend and necessity has now led to the birth of universities and institutions like Delhi University, IIT, IIM, NIIT, AIIMS and the like. Whereas earlier the high dignitary gurus used to oversee the functioning of education centers, we now have specially assigned education ministers to maintain educational law and order. In a nutshell, Education in India has changed, and mostly for the better. With a keen interest to achieve 100% literacy rate, few Indian states have achieved the benchmark and are raising the bar for imparting higher education to all. If we talk about the Indian Education System, it is divided in the following stages:

Nursery
Primary
Higher Secondary
Senior Secondary
Graduation
Post Graduation
These various stages of Education, set by the Indian Education Ministry, are instrumental in an individual’s growth. Thus to ensure consistency in the overall development of the individual, first 12 years of education are made basic for all. Graduation and Post Graduation though depends upon person’s academic interest. The various fields that are available for a graduate and/or post graduate are: – Engineering and technology, teaching, medicine, law, agriculture, veterinary, polytechnic and others. The crazes for education has become so much that students are learning the courses through distance learning and through various courses available online.Many online coaching centers and institutions have built up to provide students with platforms that can hone their skills. Advanced degrees are available online, such as MA, MS, BA, BS, PhD. MBA, etc. The vogue/frenzy of getting educated is so much that many online universities/institutions have achieved government accreditation, so that scholars can be rest assured of the authenticity of their degrees. And with the subsequent rise in demand and supply of education, the colleges/ institutions/ universities are also trying their best to mark a nail in the fence and to live up to the competition, they are advertising in all extremes.Various non-profit organizations like Teach India from The Times of India group have also come up with teaching campaigns. Their aim is to give a vision to each and every child of India to read, write and speak in their interest, and subsequently in the interest of the nation.

Government’s Hold on Higher Education – How Rational and/or Irrational?

The area of higher education is remarkably vast, having a variety of constituents, less or more contributive in nature. Also, like every other part of the social structure, good and bad lie in equilibrium there. Since corruption has radically made it to every sector of our society, there remain all the chances for a sensitive area like education to get affected, no exception.College managements (private ones, especially) are too big bodies to get stormed away in the fury of corruption. In fact, they need to move with the flow and become a part of corruption in one way or the other. Every now and then, however, the delicate air of the area of higher education can be seen turning out to be insecure for students. Pity!There is nothing complex in understanding that the weaker unit is always dominated in every social relationship, which students here in this case are. If anything adverse has to happen because of whatever irrational corruption carries along, that will happen to students. Not everyone thinks such thinking is thoughtful, though.Where the idea of some legal body’s control over higher education institutes comes is the intellectual section of our society. Well educated intellectual people actually care for students, their future and career. They suggest that if there is a body required to govern institutes imparting higher education, it should be government itself. This they believe is the best way to make the control as pure and authentic as it ultimately can be.Unlike that, those who deny this concept, strongly argue that government’s control on higher education can’t necessarily be transparent and corruption-free. This is exactly when a rich-in-contradiction narrative (always varying from person to person, obviously) of why there should or/and shouldn’t be some decree system to control higher education in India can be felt flowing around. Is Government’s Control Actually Required?In December 2010, the All India Council for Technical Education (AICTE) issued its notification with a new set of rules for B-schools. It included instructions to finish MBA entrance exams such as XAT, ATMA and MICAT. It also stated that only MAT and CAT or exams conducted by any state government will be main means of admission in B-schools.Furthermore, the circular implemented fee related regulations wherein B-schools were denied right to set fee according to their own structure. Also, because of the changes that were introduced, now higher education institutes need to admit students only through a state government controlled process. This is how government has managed to regulate higher education institutes. Though any policy implemented by government can’t be challenged, still common man willing to react on such rules and regulations (to prove them right or wrong in this way?) can’t be ignored. Everything governments do, after all, is for common man.Mass Reaction – Consensus or Disagreement?To a reasonable extent, having a regulatory body comprising of an excellent regulatory mechanism to tame higher education institutes is essential. Imparting education to young minds, future pillars of a country, after all, is a task full of responsibility. Then anybody opening up an institute in a residence-like accommodation doesn’t make sense. The worse, they charge enormous fees and provide students with almost negligible facilities and education in this way becomes more of a profit-making thing.As suggests our original education policy, education can’t be for profit and should be for all, irrespective of which class or caste one belongs to. To make this actually happen, we need a regulatory mechanism in place. Also, this is only through government’s control that we can put a check on low grade and unrecognized educational organizations.At the same time though, imposing too much regulations is like challenging liberalization. We need to keep in mind that it was economic liberalization which helped India emerge as the fastest growing economy in the world. We can’t, again, set excess of rules and regulations for higher education institutes as they promote innovation. Generally, we don’t see government schools and colleges coming up with new curricula that lead to innovation among students. And when private institutes of higher education want to design and implement new course structure, we deny it in order to defend the rules prevailing for long back. This can’t be called fair, no.All in all, and for the most part, there is a common belief among us that governments should concentrate on tightening the reins of unrecognized institutes making back-door entries. And if our government, instead, interferes in how established and recognized centres of higher education function, it is completely unfair. Then why do it when nothing worthwhile is going to come out of it?