VATupdate

Share this post on

GST Council mulling 28% tax on Bitcoin, other cryptocurrencies

The services such as crypto mining along with sales and purchases are likely to attract the 28 per cent GST if the proposal goes through in the next GST meeting, according to reports. The date of the next GST meeting is yet to be finalised. The Ministry of Finance has already imposed a 30 per cent tax on profits made from the transfer of crypto assets and non-fungible tokens (NFTs).

Source Economic Times

 

Sponsors:

VAT news
VAT news

Advertisements: