India’s 18% Crypto Tax, What are the Main Points of the Porposal?

India's Tax on Cryptocurrency

India’s Tax on Cryptocurrency: Bloomberg announced yesterday that India may soon impose an 18% GST on cryptocurrency transactions despite the country’s legal ambiguity. At present, the Intermediate Indirect Tax and Customs Committee are reviewing the proposal and submit it to the GST Council after completion.

As mentioned above, digital assets can be categorized as “intangible goods” just like other software systems, and the agency added that separate laws will be introduced to deal with the use of cryptocurrencies for criminal activities.

According to informed sources, the income tax department has realized the importance of …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.

Crypto Currency News