MaylaSoft Accountant Interview Questions, Process, and Tips

GST rate for IT consulting services is 18%. Due date for filing GSTR-1 is 10th of the following month and GSTR-3B is 20th of the following month.

• GST rate for IT consulting services is 18%

• Due date for filing GSTR-1 is 10th of the following month

• Due date for filing GSTR-3B is 20th of the following month

Employer and employee contribution rates for PF & ESI vary, typically around 12% for PF and 1.75% for ESI.

• Employer contribution rate for PF is usually 3.67% and employee contribution rate is 12%.

• Employer contribution rate for ESI is typically 4.75% and employee contribution rate is 1.75%.

• These rates may vary based on the organization and government regulations.

• For example, if an employee's salary is Rs. 20,000, their P...read more

Auditing is the process of evaluating a company's financial records to ensure accuracy and compliance with laws and regulations.

• Auditing involves examining financial statements, records, and transactions to verify their accuracy and compliance.

• Auditors assess internal controls and procedures to identify any potential risks or errors.

• The goal of auditing is to provide assurance to stakeholders that the financial informa...read more

The turnover limit for E-Invoice applicability is based on the annual turnover of a business.

• The turnover limit for E-Invoice applicability in India is set at Rs. 50 crore for businesses.

• Businesses with turnover exceeding the limit are required to generate e-invoices for their transactions.

• E-invoicing helps in reducing tax evasion and improving compliance in the business ecosystem.

ESI and PF payments are due on the 15th of every month.

• ESI and PF payments are due on the 15th of every month.

• Employers are required to deposit the ESI and PF contributions by the 15th of the following month.

• Late payments may attract penalties and interest charges.