Vat,service tax, and other indirect tax interview questions

remember the basics like tax rates generally, input set of ways, due dates of returns, deposition of tax etc...

also u must be able to ans instantly for all penalties and int for all types of returns along with due date + working knowledge required for indirect taxes like computations, abatements given, cenvat credit with all latest updates which are major should be covered and do the latest finance act throughly...questions may be asked on same.

also do the line of authoirty under service tax and vat as many do ask the same.

 

This are few tips for preparation

Sir,

 Please give me information what cenvat and what is difference between vat rates of zero rate and exempted from tax? - dgkumar

 

Certain goods are chargeable at zero rates , such goods are known as tax free goods . There are certain goods which are mentioned in a schedule as per respective state VAT acts. Such schedule is subject to amendments, addition and deletion of entries . The goods mentioned in such schedule are known as 'exempted goods'