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GST ON CRYPTOCURRENCY
Choosing a crypto exchange in India? Read this firstWith fees, security and ease of use all up for scrutiny, WazirX makes a strong case for being the everyday trader’s go-to platform in India...- Parliamentary panel expresses concern over investments in cryptocurrenciesA parliamentary panel has expressed alarm over thousands of crores invested in virtual digital assets. The committee is studying global app...
- Foreign betting sites pull a prank on taxmanOffshore gaming firms found a way to use the site name cgstahmedabadzone.gov.in to create additional, fake pages, complete with sub-links t...
- Binance gets Rs 722 crore GST notice, a first for crypto sectorThe notice was issued for fees collected from Indian customers trading in virtual digital assets (VDAs) on the platform, categorized under ...
- Will the levy of GST be the last nail in the coffin for cryptocurrencies in India?Under the GST law, ‘goods’ inter alia means every kind of movable property other than ‘money’ and ‘securities’.
- Crypto industry enraged over mounting taxes as govt mulls 28% GSTAccording to the media reports, services such as crypto mining, with sales and purchases, are likely to attract the 28 per cent GST if the ...
- Crypto transactions involving Indian, foreign exchanges may attract GSTThe tax department is scrutinising how exchanges that allow trading in India manage their cryptocurrency float, and whether there is any el...
- Govt says Rs 95.86 crore recovered from 11 cryptocurrency exchanges for GST evasionZanmai Labs (WAZIRX), Coin DCX, CoinSwitch Kuber, Buy Ucoin, UnoCoin and Flitpay were among the exchanges that were involved in GST evasion...
- Eleven Indian crypto exchanges evaded Rs 81.5 cr GST, government saysChaudhary said while the government does not collect any data on cryptocurrency exchanges, a few “cases of evasion of Goods and Services Ta...
- Payments received in cryptocurrencies set to face GST complicationsMany individuals have claimed that they got paid in cryptocurrency after they did some work such as graphic designing or advisory for clien...
- Govt working on classification of cryptocurrency under GST lawGST officers are of the view that cryptos, by nature, are similar to lottery, casinos, betting, gambling, horse racing, which have 28 per c...
- Tax cloud over cryptocurrency exchanges as income tax department eyes probeIn the last week, the Directorate General of GST Intelligence (DGGI), an investigation arm of the indirect tax department, conducted search...
- India’s cryptocurrency platforms lack clarity on tax provisions: IndustryThe anomalies in goods and services tax (GST) calculation for cryptocurrency platforms is due to the confusion over tax applicable on diffe...
- GST probe may set precedent for crypto taxationLegal experts have long debated on the categorization - and tax treatment - of cryptocurrencies. They are yet to converge on whether a cryp...
- DGGI cracks down on Cryptocurrency exchanges across country, Rs 70 crore tax evasion detected"The DGGI is investigating Coinswitch Kuber by M/s Bitcipher Labs LLP, CoinDCX by M/s Neblio Technologies PVT. LTD., BuyUCoin by M/S I Bloc...
- Crypto exchange WazirX dodged Rs 40.5 crore in tax, says GST departmentLate on Thursday evening, the tax department recovered Rs 49.2 crore from the company – the GST owed plus interest and penalties.
- Overseas crypto exchanges may face 18% additional GST in IndiaOverseas cryptocurrency exchanges that have a customer base in India may have to pay additional tax in the form of goods and services tax (...
- Tax us more but don’t ban us, cryptocurrency exchanges tell govtExperts say that the GST on cryptocurrency exchanges and income tax levied on investors’ returns could substantially wipe out returns and p...
- Before crypto ban, taxman comes calling for their shareGST on exchanges and income tax on investors’ returns could wipe out all gains, say experts
- Govt weighs imposing 18% GST on bitcoin tradeThe government is weighing a proposal to impose 18% goods and services tax (GST) on bitcoin transactions, estimated to be around Rs 40,000 ...
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