10+ FIS 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.

Inventory management is the process of overseeing and controlling the flow of goods from manufacturers to warehouses to retailers.

• It involves tracking inventory levels, orders, sales, and deliveries.

• Efficient inventory management helps in minimizing costs and maximizing profits.

• Examples include using software systems to track inventory levels in real-time and implementing just-in-time inventory practices.

Shaktikanta Das is the current RBI Governor.

• Shaktikanta Das is the 25th Governor of the Reserve Bank of India (RBI).

• He assumed office on December 12, 2018.

• Prior to becoming the RBI Governor, Das served as the Secretary of the Department of Economic Affairs in the Ministry of Finance.

• He has played a crucial role in formulating and implementing various monetary and fiscal policies in India.

• Under his leadership, the RBI has taken several measures to stabilize the Indian economy ...read more

The current President of India is Ram Nath Kovind.

• Ram Nath Kovind is the 14th President of India.

• He assumed office on July 25, 2017.

• Prior to becoming President, he served as the Governor of Bihar.

• He has a background in law and has been involved in various social and political activities.

The alcohol content in mild beer varies depending on the brand and type, typically ranging from 3-4% ABV.

• Alcohol content in mild beer is usually lower compared to regular beers.

• Mild beers often have an alcohol by volume (ABV) of around 3-4%.

• Different brands may have slightly different alcohol content in their mild beers.

A cocktail is a mixed drink typically made with a combination of spirits, mixers, and garnishes.

• Cocktails can be made with a variety of spirits such as vodka, rum, gin, tequila, and whiskey.

• Mixers like soda, juice, tonic water, and bitters are often used to add flavor and balance to cocktails.

• Garnishes like citrus slices, herbs, and cocktail cherries are used to enhance the presentation and aroma of cocktails.