Indian Tax Authorities Mulling Highest 28% GST Slab for Crypto Activities: Report Indian Tax Authorities Mulling Highest 28% GST Slab for Crypto Activities: Report

Indian Tax Authorities Mulling Highest 28% GST Slab for Crypto Activities: Report

Right now, 18% GST is levied on crypto exchanges, considered as intermediaries selling assets from foreign crypto exchanges to Indian people and formally categorized as financial services. “There are various aspects of cryptocurrencies – the transactions involving cryptos, cryptos being used to make purchases, cryptos being received as payments. All these aspects are under examination and will be discussed by the law committee,”Besides the anticipated 28% GST, crypto investors are required to pay 30% capital gains tax and 1% TDS. There are also some cess and surcharges to be paid by the investors.

Every country that has put lots of restrictions on crypto or banned it its economy got way worse ,and inflation up way more then if it did not, it takes a few weeks to go through Take from the poor. Australia govt financial says crypto brings into its economy 56 billion dollars,

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