Spandana Sphoorty Financial Assistant Manager Accounts & Taxation Interview Questions and Answers

Blocked credit under GST refers to input tax credit that cannot be claimed by a taxpayer.

• Blocked credit includes items like motor vehicles, food and beverages, health services, etc.

• Input tax credit on goods or services used for personal purposes or non-business activities is also blocked.

• Blocked credit can lead to higher tax costs for businesses as they cannot offset it against their output tax liability.

Yes, I have filed GST returns myself for multiple clients in my previous role as a taxation manager.

• I have experience in filing GST returns for multiple clients

• I am familiar with the GST filing process and requirements

• I have ensured timely and accurate filing of GST returns to avoid penalties

GSTR 3B reversals are reported in Form GST DRC-03 along with reasons for reversal.

• Form GST DRC-03 is used for reporting reversals made in GSTR 3B.

• Reasons for reversal such as excess input tax credit claimed, incorrect tax liability reported, etc. should be mentioned.

• Examples of reasons for reversal include reversal of input tax credit on goods lost, stolen, destroyed, etc.

The biggest client I worked on during articleship was a multinational corporation with operations in multiple countries.

• Managed tax compliance for a multinational corporation with complex cross-border transactions

• Prepared transfer pricing documentation for intercompany transactions

• Assisted in tax planning strategies to minimize global tax liabilities

I can join within 2 weeks of receiving the offer letter.

• I can join within 2 weeks of receiving the offer letter.

• My current notice period is 2 weeks.

• I am available to start immediately.

Yes, I have experience working on both corporate returns and individual tax returns.

• I have prepared and filed corporate tax returns for various companies, ensuring compliance with tax laws and regulations.

• I have also worked on individual tax returns, helping clients maximize their deductions and credits while minimizing their tax liability.

• I am familiar with tax software such as TurboTax and have experience in research...read more

My expected salary is based on my experience, qualifications, and the market rate for similar positions.

• Consider my years of experience in taxation management

• Take into account my qualifications and certifications in taxation

• Research the market rate for Manager Taxation positions in this region

• Negotiable based on additional benefits such as healthcare, retirement plans, etc.

I completed my articleship at a reputable accounting firm where I gained hands-on experience in tax compliance, audits, and financial reporting.

• Worked on tax compliance for various clients, including preparing tax returns and conducting tax research

• Assisted in audits by performing substantive testing and verifying financial statements

• Prepared financial reports and statements for clients, gaining insight into financial ...read more