Vistra Corporate Services Team Lead Operations Interview Questions and Answers

Tax audit clauses are provisions in contracts that outline the rights and responsibilities of parties in case of a tax audit.

• Tax audit clauses specify how the parties will cooperate during a tax audit.

• They outline the procedures for sharing information and documentation with tax authorities.

• These clauses may also detail the consequences of non-compliance with tax laws.

• Examples of tax audit clauses include indemnificati

GST audit is a process where the financial records of a business are examined to ensure compliance with GST laws.

• GST audit is conducted by tax authorities to verify the accuracy of GST returns filed by a business.

• It involves examining the books of accounts, invoices, and other financial documents of the business.

• The purpose of GST audit is to ensure that the business has correctly reported and paid the GST due.

• Penaltie...read more