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Cryptocurrency service providers seek clarity on taxation
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business-standard.comThe Directorate General of GST Intelligence's (DGGI) recent crackdown on nearly half a dozen of Cryptocurrency service providers in India has brought the focus back on the need for clarity on how cryptocurrencies and related services should be taxed.
The leading Cryptocurrency exchange WazirX, which has been a major focus of the DGGI crackdown, has paid Rs 49.2 crore as GST with interest and penalty.
While the firms providing cryptocurrency related services have been on the radar of the tax authorities due to avoidance of taxes, Cryptocurrency exchanges say the main issue is related to clarity on regulation.
"We strongly believe that regulatory clarity is the need of the hour for the Indian crypto industry. It will also provide us with
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