Blue Star Branch Commercial Officer Interview Questions and Answers

Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services.

• GST is a single tax that subsumes all other indirect taxes like excise duty, service tax, VAT, etc.

• It was implemented in India on July 1, 2017.

• GST has 4 tax slabs - 5%, 12%, 18%, and 28%.

• GST is levied on the value-added at each stage of production or distribution.

• GST has simplified the tax structure and reduced the t...read more

The filing process of GST involves registering for GST, collecting and paying taxes, and filing regular returns.

• Register for GST through the GST portal

• Collect GST from customers and pay it to the government

• File regular returns on the GST portal

• Maintain accurate records of all transactions

• Ensure compliance with GST regulations

• Penalties for non-compliance can be severe

AP process involves receiving, verifying, and processing invoices for payment.

• Invoices are received from vendors

• Invoices are verified for accuracy and authenticity

• Invoices are matched with purchase orders and receiving reports

• Invoices are approved for payment

• Payments are processed and recorded in accounting system

To check pricing condition, go to the pricing condition tab and review the pricing details.

• Navigate to the pricing condition tab in the relevant system or software

• Review the pricing details for the product or service in question

• Check for any discounts, promotions, or special pricing agreements

• Ensure that the pricing is accurate and up-to-date