Borkar & Muzumdar, Chartered Accountants CA Article Trainee Interview Questions and Answers

GST has replaced multiple indirect taxes with a single tax. Recent changes include simplified return filing and reduced rates for certain items.

• GST has replaced multiple indirect taxes like VAT, excise duty, service tax, etc.

• It has simplified the tax structure and reduced the cascading effect of taxes.

• Recent changes include the introduction of simplified return filing through GST Sahaj and GST Sugam.

• GST rates have been...read more

I am quite handy with tools and have experience using various types of equipment.

• I have experience using power tools such as drills, saws, and sanders

• I am skilled in using hand tools such as hammers, screwdrivers, and wrenches

• I have experience with measuring and cutting materials accurately

• I am able to troubleshoot and fix common household problems such as leaky faucets or broken appliances

I would rate myself 4 out of 5 in that particular tool.

• I have extensive experience using the tool in various projects.

• I have received positive feedback from colleagues and clients on my proficiency in the tool.

• I am confident in my ability to troubleshoot and solve problems using the tool.

• However, there may be some advanced features of the tool that I am not yet familiar with.

• Overall, I believe I am highly skilled in us

Steps in revenue recognition under Ind AS 115

• Identify the contract with the customer

• Identify the performance obligations in the contract

• Determine the transaction price

• Allocate the transaction price to the performance obligations

• Recognize revenue when (or as) the entity satisfies a performance obligation