Immediately after qualifying CA Exams, the million-dollar riddle to solve is whether to go for a Job or start one's own practice. If job, the next dilemma is which profile should you select. One such profile Exclusive to CAs is Indirect taxation Domain.
Since almost every business is resorting to the new tax regime, a GST certified professional can has a better chance of getting a higher-paying job in various verticals. A GST certification also adds a competitive advantage to accounting and finance professionals' resume
While a Career in Goods and Services Tax (GST) Encompasses many dimensions
- Advisory and compliance support (tax operate, technology tool offerings)
- Tax optimisation
- Audit assistance
- Diagnostic reviews
- Representation on policy matters and advocacy
- Litigation support including tax controversy management
- Central Government and/ or State Government Incentives support (negotiation, feasibility study, application, reimbursement support)
- Tax refunds
- Anti-profiteering study
We have prepared a list of Interview Questions which may be asked in Indirect Tax Interview ❤️
🤓 Indirect Taxation Interview Questions
1. Latest amendments in GST relating to E-commerce operator, E-invoices, ITC rulings
2. What do you know about the GST applicability on notice period recovery?
3. Few cases on circumstances whether blocked credit rules are not applicable. (They generally asked exceptions to blocked credit)
4. What is the procedure for Registration under GST? Cases when compulsory registration is required under GST.
5. What will be the GST Liability when a business is transferred?
6. Where is the power to levy GST obtained from?
7. Is RCM applicable only on Services? Why there is a mechanism of RCM?
8. What is GSTR 2A & GSTR 2B? How would you reconcile ITC as per books and returns and last date of availing credit?
9. What are the due dates to file return?
10. What is the difference between zero rate, nil rate and wholly exempt supply? Discuss with the help of examples
11. Identify Place of supply. (Case studies will be asked)
12. What is the impact of scrapping of GST audit on professionals & litigations in future?
13. What is the relevance of time of supply and last dates to issue invoices?
14. When to charge IGST, SGST, CGST?
15. Define Deemed Distinct Person
16. Questions on the 3 Schedules of GST and practical scenarios linking to schedules
17. What is inadverted duty structure?How is refund taken in case of inadvered duty structure?
18. Discuss about the RCM applicablity in case of Govt Services.
19.Whether it us advisable to file LUT for Zero rated supplies or pay tax on it?
20. What do we provide at the time of refund application
21. Difference between SCN and Deficiency Memo
22.What are the types of Refund? Is refund available on Capital goods.
23. Questions on Rule 42,42,36(4).
24. Sec 18 -ITC in special Circumstances.
25.What would be input tax eligibility in cases where there is a change in the constitution of a registered person?
26. What do you understand by ISD? Whether the excess credit distributed could be recovered from ISD by the department?
27. Can an ISD distribute the input tax credit to all suppliers?
28. What is the consequence of not filing the return within the prescribed date?
29. Section 122 (Penalties)
30. Can a manufacturer of goods avail composition scheme? What are the penal consequences if a person opts for the composition scheme in violation of the conditions?
31. Why e-way bill was introduced? How will you check authenticity of a particular e -way bill? What is the validity of a e-way bill? Once a way bill generated can it be revised?
32. How to file appeal before GST appelate tribunal and what is the predeposit amount?
33. Scope of Litigation Vs Advisory in GST in future
34. How would you advise client whether to go in for Litigation or settle the matter?
35. GST council meet amendments. Case study based questions
36. GST law wrt M&A, Demergers, effect of ITC on such case.
Hope you all clear the Interview with Flying colors 😀
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