Renovision Automation Services C.S.A Interview Questions, Process, and Tips

The rates of GST vary depending on the type of goods or services being purchased.

• There are multiple GST rates in India: 5%, 12%, 18%, and 28%

• Some items are exempt from GST, such as fresh fruits and vegetables

• Certain items like luxury goods may have an additional cess on top of the GST rate

GST TDS refers to the Tax Deducted at Source under the Goods and Services Tax system.

• GST TDS is a mechanism where the tax is deducted at the time of payment by the recipient of goods or services.

• The deducted amount is then deposited with the government on behalf of the recipient.

• It helps in preventing tax evasion and ensures a steady flow of revenue for the government.

• Example: If a contractor receives a payment of Rs. ...read more

Supply in GST refers to the transfer of goods or services for consideration, including sale, transfer, barter, exchange, license, rental, lease, or disposal.

• Supply in GST includes all forms of supply of goods or services such as sale, transfer, barter, exchange, license, rental, lease, or disposal.

• It also includes importation of services for a consideration whether or not in the course or furtherance of business.

• Supply...read more

Accounting concepts are basic assumptions, principles, and rules while conventions are customs and traditions followed in accounting practices.

• Accounting concepts are fundamental ideas that form the basis of accounting practices.

• Accounting conventions are customs and traditions followed in accounting that are not necessarily based on principles.

• Examples of accounting concepts include going concern, accruals, consistenc...read more