GST on Crypto Assets In The Works; Know How Crypto Assets Are Currently Taxed In India

As per recent reports, the government is currently planning to create a comprehensive indirect tax regime for cryptocurrency assets, which will help the government check the revenue losses due to the volatile nature of cryptocurrencies. The Finance Ministry, under Nirmala Sitharam, is working to define the exact characteristics of cryptocurrencies, their use-cases and how the cryptocurrencies/crypto assets will fit into the existing …

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