18% GST on Bitcoin Trade: India Considers Bringing Crypto Trading Under Tax Laws - Bullish Signs?

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myank.verma
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According to a new Times of India report, the Indian government is considering an 18% GST levy on cryptocurrency transactions. The report says that the Central Economic Intelligence Bureau (CEIB), a department of the Finance Ministry, has put forward this proposal in front of the Central Board of Indirect Taxes and Customs, highlighting that the government can bring in Rs 7200 crores in potential revenue if crypto trade was brought under the GST ambit. This is a very positive development for the Indian crypto community. We analyze the news and its potential impact in this video.

Reference:

Govt weighs imposing 18% GST on bitcoin trade: https://timesofindia.indiatimes.com/business/india-business/govt-weighs-imposing-18-gst-on-bitcoin-trade/articleshow/80001885.cms

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