WazirX, an India Crypto exchange, is now facing rough times as the financial watchdog of India, the Enforcement Directorate (ED), has frozen the company's
Cryptocurrency scam: Police says accused met victims on trading sites medianama.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medianama.com Daily Mail and Mail on Sunday newspapers.
Govt may tax overseas crypto exchanges
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When Indian banks began denying services to local
cryptocurrency exchanges a few months ago, many investors shifted to overseas platforms. Now we’ve learnt that the department of indirect taxes is looking into whether these exchanges may be required to pay
GST if they have customers in India.
Also in this letter:
WazirX preparing response to ED notice
UPI breaks records in June
Overseas crypto exchanges could face 18% GST
Overseas cryptocurrency exchanges that have customers in India may soon have to pay GST, according to experts. Almost all exchanges based outside India currently do not pay the tax, ET has learnt.
The Enforcement Directorate (ED) on Friday said that it has issued a show cause notice to Crypto-Currency Exchange Zanmai Labs Pvt Ltd (WazirX) and its Directors Nischal Shetty and Sameer Hanuman.
This investigation has been initiated by Foreign Exchange Management Act (FEMA) on the basis of the ongoing money laundering probe into Chinese-owned illegal online betting applications.