scorecardresearchGovernment looks to classify cryptos under GST: Report

Government looks to classify cryptos under GST: Report

Updated: 21 Mar 2022, 09:48 AM IST
TL;DR.
  • At present, 18 percent GST is levied only on service provided by crypto exchanges and is categorized as financial services.
Finance Minister Nirmala Sitharaman in her Budget 2022 speech proposed taxation on transactions of virtual digital assets like Bitcoin and Ethereum, or cryptocurrency tax.

Finance Minister Nirmala Sitharaman in her Budget 2022 speech proposed taxation on transactions of virtual digital assets like Bitcoin and Ethereum, or cryptocurrency tax.