Simplex Infrastructures Account Assistant Interview Questions and Answers

Q1. What are the due dates and forms required for GST returns?
Ans. 
GST returns are filed monthly, quarterly, or annually depending on turnover. Forms like GSTR-1, GSTR-3B, GSTR-4, etc. are required.
• GST returns are filed monthly, quarterly, or annually based on turnover

• Due date for GSTR-1 is 10th of the following month, GSTR-3B is 20th of the following month, GSTR-4 is 18th of the month following the quarter

• Forms required include GSTR-1 for outward supplies, GSTR-3B for summary return,
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Q2. What are the various types of GST returns, and can you explain them in detail?
Ans. 
Various types of GST returns include GSTR-1, GSTR-3B, GSTR-4, GSTR-9, etc.
• GSTR-1: Monthly return for outward supplies

• GSTR-3B: Monthly summary return for taxable supplies

• GSTR-4: Quarterly return for composition dealers

• GSTR-9: Annual return for regular taxpayers
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Q3. What services are included under Reverse Charge Mechanism (RCM) in the Goods and Services Tax (GST)?
Ans. 
Services included under Reverse Charge Mechanism (RCM) in GST are those where the recipient of the goods/services is liable to pay the tax instead of the supplier.
• Legal services provided by an advocate or a firm of advocates

• Services provided by an arbitral tribunal

• Services provided by an insurance agent

• Services provided by a recovery agent

• Services provided by a director to a company

• Transportation of goods by road servi...read more
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Q4. What are the different sections of TDS and can you provide a brief explanation of each?
Ans. 
The different sections of TDS include salary, interest on securities, dividends, interest other than interest on securities, winnings from lotteries, etc., and income from house property.
• Salary: TDS is deducted from the salary paid to employees.

• Interest on securities: TDS is deducted on interest earned from securities like bonds, debentures, etc.

• Dividends: TDS is deducted on dividends paid by companies to shareholders.

• ...read more
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Q5. Could you provide a brief explanation of your previous work experience and describe the responsibilities you had at your last company?
Ans. 
I have 5 years of experience as an accountant at a medium-sized company, where I managed financial records and prepared reports.
• Managed financial records and transactions

• Prepared financial reports and statements

• Assisted with budgeting and forecasting

• Performed audits and reconciliations

• Collaborated with other departments on financial matters
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Q6. What is the impact of Input Tax Credit (ITC) in the Goods and Services Tax (GST) system?
Ans. 
Input Tax Credit (ITC) in GST allows businesses to reduce their tax liability by claiming credit for taxes paid on inputs.
• ITC helps in preventing cascading effect of taxes, where taxes are levied on taxes already paid.

• It encourages compliance as businesses need to ensure proper documentation and reporting to claim ITC.

• ITC reduces the overall cost of goods and services, making them more competitive in the market.

• Example...read more
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Q7. How did you come to know about the company?
Ans. 
I came to know about the company through a job posting on a popular job search website.
• I found the job posting on Indeed.com

• I also saw the company's profile on LinkedIn

• A friend recommended the company to me
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Q8. What are the steps to create journal entries in Tally?
Ans. 
Steps to create journal entries in Tally
• Open Tally and select the company for which you want to create journal entries

• Go to 'Accounting Vouchers' section

• Select 'F7: Journal' to create a new journal entry

• Enter the date, ledger accounts, and amounts for debit and credit sides

• Save the journal entry by pressing 'Ctrl+A'
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Q9. Where do you see yourself in the near future?
Ans. 
In the near future, I see myself advancing in my career as an Accountant, taking on more responsibilities and potentially moving into a managerial role.
• Continuing to enhance my skills and knowledge in accounting practices

• Seeking opportunities for professional development and growth within the company

• Working towards obtaining additional certifications or qualifications in accounting

• Building strong relationships with cli...read more
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Q10. Could you explain a specific GST notice you have dealt with and describe in detail how you managed to resolve it?
Ans. 
Resolved a GST notice by identifying errors in input tax credit calculation and providing supporting documentation.
• Identified errors in input tax credit calculation

• Reviewed purchase invoices and reconciled with GST returns

• Provided supporting documentation to prove correct input tax credit claims
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Q1. Why should we hire you
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Q2. Why do you want to leave your current organisation
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Q1. What is your strength
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Q2. What is your weakness
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Q3. How do you handle different opinions
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Q4. Rate yourself and reason
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Q1. They are asking about experience
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It should be there in an preliminary process before interview for qualifying & accuracy analysis.

It should be discussion on professional things is first & job allocation & personal issues.

Q1. What is direct cost & indirect cost give me some example
Ans. 
Direct costs are expenses that can be directly attributed to a specific product or service, while indirect costs are expenses that cannot be directly linked to a specific product or service.
• Direct costs include raw materials, labor costs, and manufacturing overhead.

• Indirect costs include rent, utilities, and administrative expenses.

• Direct costs are easily traceable to a product or service, while indirect costs are allo...read more
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Q1. Basic Experience details
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Q2. Education Details
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Q1. What is working capital?
Ans. 
Working capital is the difference between a company's current assets and current liabilities.
• Working capital is essential for a company's day-to-day operations.

• It indicates the company's ability to meet its short-term financial obligations.

• Formula: Working Capital = Current Assets - Current Liabilities.

• Examples of current assets: cash, accounts receivable, inventory.

• Examples of current liabilities: accounts payable, sh
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Q2. What kind of accounting softwares have you used?
Ans. 
I have experience using various accounting softwares such as QuickBooks, Xero, and SAP.
• QuickBooks

• Xero

• SAP
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Q1. I think you should me hire me because im very organized diligent in my
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Q2. I want to work at your company because i love the service you provide to customers you hire
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Q3. You should hire me because of my proven ability to maintain strong interpersonal relationship with severeal
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Q4. This interview questions seems forward
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Q5. Exceptional hire
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Q6. Exceptional hire for the better ttech
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Q7. D8ypiddliQGQLFCGwuo
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Q8. Good about the hire
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