GST Consultant

GST Consultant Interview Questions and Answers

Updated 3 Feb 2025

Q1. What is the turnover limit for GST audit?

Ans.

The turnover limit for GST audit is Rs. 2 crores.

The turnover limit for GST audit is Rs. 2 crores for businesses with a turnover exceeding this limit.
GST audit is mandatory for businesses with a turnover exceeding Rs. 2 crores in a financial year.
Businesses with turnover below Rs. 2 crores are not required to undergo GST audit.

Q2. What is gstr-2a, gstr-2b, gstr-3b, TDS, etc

Ans.

GSTR-2A is a purchase-related tax return, GSTR-2B is an auto-drafted input tax credit statement, GSTR-3B is a monthly summary return, TDS is tax deducted at source.

GSTR-2A is a purchase-related tax return that is auto-populated based on the GSTR-1 filed by the supplier.
GSTR-2B is an auto-drafted input tax credit statement that helps taxpayers reconcile their input tax credit.
GSTR-3B is a monthly summary return that needs to be filed by registered taxpayers.
TDS stands for tax ...read more

Q3. do you have any idea about gst?

Ans.

Yes, GST stands for Goods and Services Tax, a value-added tax levied on most goods and services sold for domestic consumption.

GST is a consumption tax that is ultimately borne by the end consumer.
It replaced multiple indirect taxes in India, making the tax system more streamlined.
GST has different rates for different goods and services, such as 5%, 12%, 18%, and 28%.
Input tax credit can be claimed under GST, allowing businesses to reduce their tax liability by claiming credit...read more

Q4. What is indirect and direct tax

Ans.

Direct tax is paid directly by individuals or organizations to the government, while indirect tax is collected by intermediaries and passed on to the government.

Direct tax is levied on income, profits, or assets of individuals or organizations.
Examples of direct taxes include income tax, corporate tax, and property tax.
Indirect tax is imposed on goods and services, and is collected by intermediaries such as retailers.
Examples of indirect taxes include sales tax, value-added t...read more

Are these interview questions helpful?

Q5. What is Good and service tax

Ans.

Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India.

GST is a destination-based tax, which means it is levied at the point of consumption.
It has replaced multiple indirect taxes like VAT, service tax, excise duty, etc.
GST has multiple tax slabs - 5%, 12%, 18%, and 28%, with some goods and services being exempted or taxed at a lower rate.
Input tax credit can be claimed on taxes paid on inputs used in the supply of goo...read more

Q6. What is Gst

Ans.

GST stands for Goods and Services Tax, a value-added tax levied on most goods and services sold for domestic consumption.

GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.
It aims to eliminate the cascading effect of taxes and simplify the tax structure.
GST has multiple tax slabs such as 5%, 12%, 18%, and 28% for different goods and services.
Input tax credit can be claimed on taxes paid on inputs used in the production of good...read more

Share interview questions and help millions of jobseekers 🌟

Q7. What is indirect tax

Ans.

Indirect tax is a tax collected by an intermediary (such as a retailer) from the person who ultimately pays the tax (such as a consumer).

Indirect taxes are imposed on goods and services rather than on income or profits.
They are collected by intermediaries and passed on to the government.
Examples include sales tax, value-added tax (VAT), and goods and services tax (GST).