Dass Gupta And Associates Paid Assistant Interview Questions and Answers

GSTR9C is a reconciliation statement to be filed by taxpayers with an annual turnover exceeding 2 crores.

• GSTR9C is a combination of GSTR9 and GSTR9A.

• It is a statement of reconciliation between the annual returns and the audited financial statements.

• It is mandatory for taxpayers with an annual turnover exceeding 2 crores.

• It must be certified by a Chartered Accountant or Cost Accountant.

• It helps in identifying any discre...read more

RBI has prudential norms for asset classification into different categories.

• RBI has defined different categories of assets based on their quality and recovery prospects.

• Assets are classified into four categories - Standard, Sub-standard, Doubtful, and Loss.

• The classification is based on the period for which the asset has remained non-performing.

• The classification determines the provisioning requirements for the bank.

• Fo...read more

CARO 2016 Clause 1 deals with disclosure of fixed assets in financial statements.

• Clause 1 of CARO 2016 requires companies to disclose details of their fixed assets in their financial statements.

• This includes information on the cost, depreciation, and net value of fixed assets.

• Companies must also disclose any revaluation of fixed assets and the method used for such revaluation.

• Examples of fixed assets include land, buil...read more