GST net on crypto may expand to include their sale, purchase

09 May 2022admin

Although the finance ministry has already imposed a 30% income tax on earnings from virtual digital asset transactions from April 1, there are still several aspects pertaining to goods and service tax on cryptocurrencies, such as its mining, sale and purchase, and their exchange value when used for buying or bartering goods and services.

The GST Council will have to study both the technical and legal aspects pertaining to cryptocurrencies before taking a view on tax rates, experts said.

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