EY Finance Interview Questions and Answers – Complete Guide for EY Indirect Tax Analyst Interview Questions
If you’re preparing for EY Indirect Tax Analyst Interview Questions in the finance and tax domain, especially for the EY Tax Analyst – IDT (VAT/GST Compliance) role, this guide is exactly what you need.
Introduction: Why EY Interviews Are Competitive
EY (Ernst & Young) is one of the world’s leading professional services firms, offering assurance, consulting, tax, and strategy services across 150+ countries. With its strong Global Delivery Services (GDS) model and expanding indirect tax practice, EY continues to hire skilled professionals in GST, VAT, customs, and multi-country tax compliance.
The Tax Analyst – IDT (VAT/GST Compliance) role is highly sought after. Why?
- Strong global exposure
- Multi-country VAT compliance opportunities
- Technology-driven tax processes
- Clear career growth path in indirect tax
But here’s the reality: EY interviews are structured, technical, and scenario-based. They assess not just theoretical knowledge but also practical application.
That’s exactly why the downloadable “EY Indirect Tax Analyst Interview Questions and Answers” PDF is designed — to help you prepare with confidence using real interview-style questions and structured expert answers.
What’s Inside the EY Indirect Tax Analyst Interview Questions and Answers PDF?
This is not a random question bank. It’s a carefully structured interview preparation guide tailored for:
- EY Tax Analyst – IDT (VAT/GST Compliance)
- Multi-country VAT compliance roles
- GST-focused finance professionals
- Freshers entering Big 4 tax practice
The PDF includes:
✔ 75+ real-world interview questions
✔ Structured answers written in simple, clear language
✔ Role-specific content aligned with EY job descriptions
✔ GST, VAT, customs, and indirect tax concepts
✔ Accounting fundamentals for finance interviews
✔ Excel and reconciliation-based questions
✔ Behavioral and HR interview preparation
The content is aligned directly with the EY IDT interview preparation material EY – Indirect Tax Analyst Inter….
It covers:
Direct vs Indirect Tax
Direct tax is levied directly on the income or profits of individuals and businesses, such as Income Tax and Corporate Tax. It cannot be transferred to another person.
Indirect tax is levied on the supply of goods and services, such as GST and VAT. It is collected by businesses from customers and remitted to the government. Indirect tax is transaction-based and can be passed on to the end consumer.
GST Slabs and ITC Mechanism
India has multiple GST slabs: 0%, 5%, 12%, 18%, and 28%, with certain goods attracting additional cess. Essential goods are taxed at lower rates, while luxury goods fall under higher slabs.
The Input Tax Credit (ITC) mechanism allows businesses to claim credit for GST paid on purchases against GST collected on sales. This prevents cascading tax and ensures tax is paid only on value addition.
VAT Concepts and Examples
VAT (Value Added Tax) is an indirect tax levied at each stage of production or distribution based on the value added. Businesses collect VAT on sales and claim credit for VAT paid on purchases.
For example, if a manufacturer pays VAT on raw materials and later sells finished goods with VAT, they pay only the difference between output VAT and input VAT to the government.
Customs Duties and Import Taxation
Customs duty is levied on goods imported into a country. It includes components such as Basic Customs Duty (BCD), Social Welfare Surcharge, and Integrated GST (IGST) on imports.
The total import tax is calculated on the assessable value of goods, and businesses may claim ITC on IGST paid, subject to eligibility.
Accrued Expenses and Journal Entries
Accrued expenses are expenses that have been incurred but not yet paid. They are recorded to ensure accurate financial reporting under the accrual basis of accounting.
Journal entry example:
Debit Expense Account
Credit Accrued Liability
When payment is made:
Debit Accrued Liability
Credit Cash/Bank
Trial Balance, Final Accounts, Income Statement
Trial Balance is a statement listing all ledger balances to ensure total debits equal total credits. It helps detect accounting errors.
Final Accounts include the Trading Account, Profit & Loss Account, and Balance Sheet.
The Income Statement (Profit & Loss Account) shows revenue, expenses, and net profit or loss for a specific period.
Deferred Tax
Deferred tax arises due to timing differences between accounting income and taxable income.
For example, if depreciation as per accounting standards differs from tax laws, it creates a Deferred Tax Asset or Deferred Tax Liability. This ensures accurate tax reporting in financial statements.
TDS Updates
Tax Deducted at Source (TDS) requires certain payments to have tax deducted before payment is made. Recent updates include provisions like Section 194Q (TDS on purchase of goods) and Section 206AB (higher TDS for non-filers).
Staying updated with TDS amendments is important for compliance and avoiding penalties.
Multi-Country Compliance Exposure
Multi-country compliance involves handling VAT/GST filings across different jurisdictions. Each country has different tax rates, filing frequencies, and documentation requirements.
Professionals must understand global tax frameworks and coordinate with international teams to ensure accurate compliance.
AI Impact on Tax Compliance
Artificial Intelligence is transforming tax compliance by automating invoice validation, reconciliation, and anomaly detection.
AI reduces manual errors, improves efficiency, and enhances data analysis. However, interpretation of tax laws, advisory decisions, and strategic planning still require human expertise.
This makes it highly relevant to the EY Tax Analyst role.
5 Sample EY Indirect Tax Analyst Interview Questions Interview Questions (Preview from the PDF)
Below are preview examples from the PDF so you can understand the quality and structure.
1. What is the difference between Direct Tax and Indirect Tax?
Sample Answer:
Direct tax is levied directly on the income or profits of individuals and businesses, such as Income Tax and Corporate Tax. It cannot be transferred to another person.
Indirect tax is levied on the supply of goods and services, such as GST or VAT. It is collected by businesses from customers and remitted to the government.
In the EY IDT role, indirect tax compliance like GST return filing and VAT reconciliation is the primary focus.
2. How many GST slabs are there in India?
Sample Answer:
India has five primary GST slabs: 0%, 5%, 12%, 18%, and 28%. Additionally, certain goods attract compensation cess over the 28% slab.
Lower slabs apply to essential goods, while luxury and sin goods attract higher rates.
3. Explain Input Tax Credit (ITC) under GST.
Sample Answer:
Input Tax Credit allows businesses to claim credit for GST paid on purchases against GST payable on sales.
For example, if a business pays ₹10,000 GST on purchases and collects ₹15,000 GST on sales, the net payable is ₹5,000.
ITC prevents cascading tax and improves working capital management.
4. What are the responsibilities of the EY IDT VAT/GST Compliance role?
Sample Answer:
Responsibilities include:
- Preparation and review of monthly and quarterly GST/VAT returns to ensure accuracy and compliance.
- Handling multi-country VAT filings by understanding country-specific tax laws and reporting formats.
- Performing tax reconciliations between returns and accounting records to identify and resolve discrepancies.
- Reviewing and responding to tax authority notices with proper documentation and analysis.
- Supporting advisory teams through tax research, impact analysis, and classification assessments.
- Ensuring timely submission of all returns by tracking statutory deadlines and coordinating with stakeholders.
- Contributing to process improvements and automation to enhance efficiency and reduce manual errors.
- Coordinating with global and onshore teams to ensure smooth data flow and compliance execution.
- Ensuring adherence to updated tax regulations and statutory requirements.
- Maintaining proper documentation and audit trails for compliance transparency and future reviews.
The role requires technical knowledge, analytical skills, and attention to detail.
5. What is depreciation, and how does it relate to tax?
Sample Answer:
Depreciation is the systematic allocation of the cost of an asset over its useful life.
Under GST, if Input Tax Credit is claimed on capital goods, the GST portion cannot be included in the cost for income tax depreciation.
These examples are only a small preview. The full PDF contains 70+ structured interview questions covering technical, practical, and conceptual areas.
Why This EY Indirect Tax Analyst Interview Questions and Answers PDF Is Worth Buying
Let’s be practical.
When preparing for EY Indirect Tax Analyst Interview Questions, most candidates:
- Many candidates rely on random YouTube videos that may not be structured or aligned with the actual EY interview pattern.
- Some candidates read outdated blogs that do not reflect the latest GST rules, VAT updates, or current interview expectations.
- Many aspirants prepare incomplete notes without covering all technical and role-specific concepts required for the EY Indirect Tax Analyst position.
- A common mistake is missing the role-specific focus, such as multi-country VAT compliance and reconciliation-based questions, which are critical for EY interviews.
This PDF solves that.
1. Saves Time
Instead of searching multiple sources, you get everything in one structured guide.
2. Based on Actual Interview Patterns
Questions reflect:
- Technical round expectations
- Scenario-based on EY Indirect Tax Analyst Interview Questions
- Practical accounting entries
- GST reconciliation discussions
3. Builds Confidence
When you practice structured answers, you:
- Speak clearly
- Avoid confusion
- Respond confidently under pressure
4. Suitable for Freshers and Experienced Professionals
Freshers benefit from concept clarity.
Experienced professionals refine structured articulation.
5. Big 4 Standard Preparation
The answers are written in professional language expected in Big 4 interviews.
How This PDF Helps Beyond EY Interviews
Even if you are preparing for:
Deloitte Tax roles:
Tax roles at Deloitte focus on indirect tax compliance, advisory services, and regulatory support for domestic and international clients. Responsibilities often include GST return preparation, tax research, handling notices, and assisting in tax structuring. Similar to EY, Deloitte emphasizes technical expertise, analytical skills, and client coordination.
KPMG Indirect Tax
KPMG’s Indirect Tax roles involve GST compliance, VAT advisory, customs advisory, and litigation support. Professionals handle reconciliations, tax impact analysis, and cross-border tax transactions. Strong knowledge of tax laws, documentation standards, and risk management is essential in these roles.
PwC GST advisory
PwC GST advisory roles focus more on strategic tax consulting along with compliance. Responsibilities may include GST impact analysis, tax optimization, structuring transactions, classification reviews, and supporting clients during audits. These roles require both technical GST knowledge and business understanding.
Genpact or State Street finance roles
In companies like Genpact or State Street, finance roles often involve tax operations, reconciliations, reporting, and compliance support for global clients. These roles emphasize process efficiency, ERP systems, data analysis, and adherence to regulatory standards. Indirect tax knowledge is valuable for handling transaction-based compliance.
Corporate GST compliance roles
Corporate GST compliance roles within private companies focus on internal GST return filing, input tax credit management, vendor reconciliations, and responding to tax notices. These roles require strong accounting knowledge, practical GST experience, and coordination with internal finance teams and external consultants.
The concepts remain the same:
- GST compliance
- VAT filing
- Input tax credit
- TDS provisions
- Accounting fundamentals
- Financial statement understanding
Indirect tax knowledge is transferable across companies.
Preparing with this EY Indirect Tax Analyst Interview Questions guide strengthens your fundamentals for all global financial services firms.
Frequently Asked Questions (FAQs)
1. Is this PDF suitable for freshers?
Yes. Concepts are explained clearly from basics to advanced level.
2. Does it cover multi-country VAT?
Yes. It includes VAT concepts relevant for global compliance roles.
3. Is Excel covered?
Yes. Common Excel functions like VLOOKUP and reconciliation usage are included.
4. Does it include behavioral questions?
Yes. “Why EY?”, “Where do you see yourself in 5 years?”, and role-based questions are covered.
5. Is it aligned with the EY IDT job description?
Yes. The content is directly aligned with the EY Tax Analyst – IDT VAT/GST Compliance role EY – Indirect Tax Analyst Inter….
6. How many questions are included?
The PDF contains 70+ structured for EY Indirect Tax Analyst interview questions and answers.
7. Is it updated with recent tax reforms?
Yes. It includes GST updates, TDS amendments, and recent tax reforms.
8. Can experienced professionals benefit from it?
Absolutely. It helps refine articulation and structure answers more effectively.
Final Thoughts: Prepare Smart, Not Just Hard
EY interviews are competitive because they hire professionals who understand both tax law and business impact.
The difference between a selected and rejected candidate is often not knowledge — it is clarity, structure, and confidence.
The EY Indirect Tax Analyst Interview Questions and Answers PDF gives you:
- Structured preparation
- Role-specific content
- Practical examples
- Confidence to answer technical questions clearly
- Strong indirect tax fundamentals
If you are serious about clearing your EY Indirect Tax Analyst interview questions, don’t leave your preparation incomplete.
Invest in structured preparation.
Strengthen your fundamentals.
Walk into the interview with confidence.
Your competitors are preparing.
Are you?
