Remove tag tax
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Over 12k fake entities in GST; CBIC plans biometric authentication, tighter return filing

CFO News

The Central Board of Indirect Taxes and Customs (CBIC) in India is planning to introduce biometric authentication and geo-tagging in an effort to crack down on GST fraud. The CBIC chief, Vivek Johri, said that there are around 12,500 bogus entities that have been identified as claiming fake Input Tax Credit (ITC).

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10 Tuesday AM Reads

Barry Ritholtz

This is before we get to the issue of capital gains tax’ hurdle of 20% on those pesky profits. ( The Big Picture ) • Secret History of Alan Alda’s M*A*S*H Dog Tags : At auction, it was revealed they were from WWII vets: a Black man from the South and a Jew from Brooklyn. I found their families. (

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The Impact Of The Coronavirus On US Shopping Malls

PYMNTS

The International Council of Shopping Centers (ICSC) says it believes action from the federal government is needed, and large retail brands began to put a price tag on the revenue losses they expect to face. 400B: Approximate amount in state and local taxes the shopping industry generates in the U.S. All this, Today in Data.

Numbers 52
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Your Ultimate Finance Department Checklist

CFO Simplified

Having a highly engaged CPA as opposed to one who just files taxes for you can fill the gap until you hire a higher-level member of your accounting and finance team. We know, however, that hiring a full-time CFO can come with a hefty price tag. For that, you’ll need your CPA or tax attorney. What is a Large Company? Bookkeeper.

Finance 52
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A ‘Diaper’ By Any Other Tax Code: The Complexities Of Selling Across State Tax Laws

PYMNTS

Merchants aiming to sell nationwide must pay attention to how their goods are treated by each state’s tax code. Items considered as exempt medical necessities in some states may be taxed at high rates in others, and businesses cannot afford to be caught by surprise. Around The Next-Gen Sales Tax Wor ld.

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When One State’s Tax-Exempt Necessity Is Another’s High-Tax Discretionary Purchase

PYMNTS

Sales taxes empower governments to maintain critical public services, but they can also make medical essentials too expensive for those who need them. Campaigns against taxing obligatory items are spreading across the United States, forcing states to rethink their revenue generation decisions. Sales taxes’ price tags.

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Big Tech Compliance Tracker: Facebook Backs Data Portability Law, Amazon Considers Registering Services As Separate Entities In India

PYMNTS

The news comes as a new Indian equalization measure came into existence in 2020 that puts a 2 percent tax on every digital transaction that foreign online shopping firms conduct. Facebook first let American and Canadian users move their videos and pictures to Google Photos in April.