Today news
About the same in other media
What does a GST probe against exchanges mean for crypto taxation?
Reading now: 121
business-standard.comThe dawn of the new year failed to bring with it any regulatory clarity on cryptocurrencies or how they can be taxed in India. And this has its consequences.
Last week, the Central Goods and Services Tax Mumbai Zone said, it had detected GST evasion of Rs 40.5 crore on commission earned by Indian crypto exchange WazirX. The Mumbai-based crypto firm had to cough up Rs 49.2 crore, which included its GST dues plus interest.
The contention was that WazirX wasn’t paying GST on the commissions that it charged on transactions through its platform. If the transaction is in Indian rupees or cryptocurrencies such as Bitcoin and Ether, WazirX charges a commission of 0.2%.
Read more on business-standard.comAbout this in other media
Budget 2022: Cryptocurrency sector seeks clarity on crypto classification, taxation in India cnbctv18.com /2 years ago
Tales From Crypto: A billionaire meme feud threatens industry unity economictimes.indiatimes.com /2 years ago
Crypto exchanges may tweak code of conduct as bill lags economictimes.indiatimes.com /2 years ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
