10+ V.M. & Co. Interview Questions and Answers

The process for filing Goods and Services Tax (GST) involves registering for GST, collecting GST from customers, filing GST returns, and paying GST to the government.

• Register for GST through the GST portal

• Collect GST from customers on taxable supplies

• File GST returns on a monthly, quarterly, or annual basis depending on turnover

• Pay GST to the government through online banking or at authorized banks

• Maintain proper records of invoices and expenses for GST compliance

The revenue generated by the business over the weekend was $150,000.

• The revenue over the weekend was $150,000.

• Weekend revenue is a key metric for evaluating business performance.

• Factors such as promotions, events, and seasonality can impact weekend revenue.

The commission structure for online travel agent bookings varies depending on the company and agreement.

• Commission structures can be based on a percentage of the booking value or a flat fee per booking.

• Some companies offer tiered commission rates based on the volume of bookings generated.

• In some cases, online travel agents may receive bonuses or incentives for meeting certain targets.

• Commission structures are typically outlined in the contract or agreement between the online ...read more

Controls involved in managing a budget include setting clear objectives, monitoring expenses, conducting regular reviews, and implementing cost-saving measures.

• Setting clear budget objectives to align with company goals

• Monitoring expenses regularly to ensure they stay within budget limits

• Conducting regular budget reviews to identify any variances and make necessary adjustments

• Implementing cost-saving measures such as negotiating better deals with suppliers or reducing unneces...read more

I am traveling approximately 25 miles from my home to the office.

• I live in a suburb outside of the city where the office is located.

• I typically take the highway to get to work.

• The commute usually takes me around 45 minutes in normal traffic conditions.

Debtors management involves monitoring and controlling the company's accounts receivable to ensure timely payments.

• Regularly monitoring outstanding invoices

• Establishing clear credit policies and terms

• Following up with customers on overdue payments

• Implementing efficient invoicing and payment processes

• Utilizing debt collection strategies when necessary

Average room revenue is the total revenue generated from room sales divided by the number of rooms sold.

• Average room revenue is a key metric used in the hospitality industry to measure the performance of a hotel's room sales.

• It is calculated by dividing the total revenue generated from room sales by the number of rooms sold during a specific period.

• For example, if a hotel generates $10,000 in room revenue from selling 100 rooms, the average room revenue would be $100 per room...read more

TDS tax rate slabs vary based on the type of income and the individual's status.

• TDS rate for salary income ranges from 0% to 30%, depending on the income level.

• TDS rate for interest income is usually 10%, but can vary based on the type of interest.

• TDS rate for rent income is typically 10%, but can be higher for certain cases.

• TDS rate for professional fees is usually 10%, but can vary based on the nature of the services provided.

My average daily revenue is $10,000.

• Average daily revenue is calculated by dividing total revenue by number of days.

• Example: Total revenue for the month is $300,000, and there are 30 days in the month, so average daily revenue is $10,000.

• It helps in tracking daily performance and setting targets for improvement.

The company's yearly turnover is $10 million.

• The company's yearly turnover is $10 million.

• The turnover has been steadily increasing over the past few years.

• The turnover includes revenue from key accounts as well as other sources.

• The turnover is a key metric used to measure the company's financial performance.