scorecardresearchAre cryptocurrencies goods or services? GST law panel’s dilemma continues: Report

Are cryptocurrencies goods or services? GST law panel’s dilemma continues: Report

Updated: 09 Jun 2022, 09:49 AM IST
TL;DR.
Decision on tax treatment to be taken after there’s greater clarity on classification
At present, there is no specific provision for virtual assets in the GST regulations. It is levied at the rate of 18 per cent only on services provided by crypto exchanges, which are categorised as financial services

At present, there is no specific provision for virtual assets in the GST regulations. It is levied at the rate of 18 per cent only on services provided by crypto exchanges, which are categorised as financial services