10+ Indianiti Global Solution Interview Questions and Answers

The engineering field exists to solve complex problems and improve the quality of life through innovation and technological advancements.

• Engineering is essential for designing and constructing infrastructure such as buildings, bridges, roads, and dams.

• Engineers develop new technologies and improve existing ones to enhance efficiency and productivity in various industries.

• The field of engineering plays a crucial role in addressing environmental challenges and promoting sustain...read more

Golden rules of accounting and depreciation/amortization

• Golden rules of accounting are the basic principles that guide the accounting process

• There are three golden rules of accounting: debit the receiver, credit the giver; debit what comes in, credit what goes out; debit expenses and losses, credit income and gains

• Depreciation is the decrease in value of an asset over time due to wear and tear or obsolescence

• Amortization is the process of spreading the cost of an intangible a...read more

Petty cash book is used to record small cash transactions and to keep track of the balance of petty cash.

• It helps to keep track of small cash transactions that are not recorded in the main cash book.

• It helps to control and monitor the use of petty cash.

• It helps to reconcile the balance of petty cash at the end of a period.

• It is useful for making small payments such as office supplies, postage, and travel expenses.

• It is important to ensure that all transactions are properly do...read more

Colification is not a recognized term in any field.

Ageing item refers to inventory that has been in stock for a long period of time without being sold. FIFO stands for First In, First Out.

• Ageing item is inventory that has been in stock for a long time without being sold

• FIFO is a method of inventory management where the oldest stock is sold first before newer stock

• Example: If a company has 100 units of a product and sells 50 units, the remaining 50 units are considered ageing items

A stock controller is responsible for managing and monitoring inventory levels within a company.

• Responsible for maintaining accurate records of stock levels

• Monitoring stock movements and identifying discrepancies

• Reordering stock to ensure optimal levels

• Collaborating with suppliers and internal teams to coordinate stock deliveries

• Analyzing stock data to forecast future needs

Input Tax Credit (ITC) is a mechanism to avoid double taxation on goods and services.

• ITC allows businesses to claim credit for taxes paid on inputs used in the production of goods or services.

• It helps in reducing the overall tax liability of businesses.

• ITC is available for taxes paid on inputs such as raw materials, services, capital goods, etc.

• Example: If a manufacturer pays GST on raw materials, they can claim ITC to offset the tax liability on the final product.

• ITC is an i...read more

Strengths include strong communication skills and attention to detail. Weaknesses include being overly critical of own work.

• Strengths: strong communication skills

• Strengths: attention to detail

• Weaknesses: overly critical of own work

GSTR 2B is a static statement generated on the basis of GSTR 1, 5, 6, 7 filed by suppliers, while GSTR 2A is a dynamic statement reflecting purchases as per suppliers' GSTR 1.

• GSTR 2B is auto-populated and cannot be edited by the recipient, while GSTR 2A can be edited by the recipient.

• GSTR 2B provides a consolidated view of all invoices received from various suppliers, while GSTR 2A shows individual invoices from each supplier.

• GSTR 2B is generated on the 12th of the following ...read more