indian crypto tax – DIGIT INFO

India’s Tax Authority Asks Crypto Exchanges for Details of Coins Traded on Their Platforms

DIGIT — Tue, 01 Nov 2022 02:30:36 +0000

India’s tax authority has reportedly asked major cryptocurrency exchanges in the country to provide information pertaining to the coins traded on their platforms. The tax authority is also evaluating the taxability of crypto transactions to determine if the goods and services tax (GST) can be applied to them. Indian Crypto Exchanges to Provide Details of […]

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Indian Government Working on How GST Tax Could Be Applied to Crypto

DIGIT — Thu, 22 Sep 2022 03:00:47 +0000

India’s ministry of finance is reportedly working on how the goods and services tax (GST) could apply to crypto transactions. “A better understanding of how cryptocurrencies fit into our legal system is the prerequisite for the decision on the GST rate,” a source told local media. India’s Goods and Services Tax Could Soon Apply to […]

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Indian Crypto Trading Volumes Plummet After New TDS Tax Rule Takes Effect

DIGIT — Tue, 05 Jul 2022 14:00:05 +0000

Cryptocurrency trading volumes across exchanges in India have plunged after the country’s 1% tax deducted at source (TDS) went into effect at the beginning of the month. Some major crypto exchanges saw volumes dropping by about 80%. Crypto Trading Volumes Fall Across India The trading volumes across crypto exchanges in India have fallen sharply after […]

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India’s Crypto Trading Volume Plunges Further as Mobikwik Stops Payment Service

DIGIT — Tue, 12 Apr 2022 03:30:08 +0000

Cryptocurrency trading volumes in India have plunged further across exchanges as traders mull over the 30% crypto taxation. In addition, popular payment service provider Mobikwik has stopped service to exchanges. Crypto Trading Volume in India Plunges Further Cryptocurrency trading volume in India continues to slide after the government began taxing crypto income at 30% without […]

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Indian Parliament Member Asks Government to Tax Crypto Income More Than 30%

DIGIT — Tue, 29 Mar 2022 05:35:01 +0000

An Indian parliament member has urged the government to increase the tax on crypto income from the current proposed rate of 30%, stressing that crypto trading is similar to gambling. He has also requested that the goods and services tax (GST) be imposed on the total transaction value of crypto. Indian Parliament Member Wants to […]

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India Considers 18% GST on Bitcoin Transactions

DIGIT — Tue, 29 Dec 2020 11:30:56 +0000

The Indian government is reportedly mulling over imposing an 18% goods and services tax (GST) on bitcoin transactions. According to the Central Economic Intelligence Bureau, the government could gain Rs 7,200 crore annually from this bitcoin taxation. 18% GST on Bitcoin Trades The Central Economic Intelligence Bureau (CEIB), an arm of the finance ministry, has […]

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