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GST on cryptocurrency? Overseas exchanges may face 18% tax BusinessToday.In © Provided by Business Today GST on cryptocurrency? Overseas exchanges may face 18% tax Can cryptocurrencies invite a Goods and Service Tax (GST) charge? The department of indirect taxes is exploring whether overseas exchanges that have a customer base in India are required to pay GST when they provide certain data services as per Indian law. According to Indian tax laws, almost all transactions that involve Indians consuming goods and services invite a GST charge. And these charges could mount up to 18 per cent for overseas exchanges. The government could categorise services provided by overseas exchanges that allows Indians to trade on their platforms as online information database access and retrieval (OIDAR) services, as mentioned in a report in The Economic Times. OIDAR rules state that any digital or data service provided to Indians or people based in India should be taxed.

United arab emiratesRahul gargAbhishek jainService taxAsire consultingBusiness todayஒன்றுபட்டது அரபு அமீரகங்கள்ராகுல் கார்க்அபிஷேக் ஜெயின்சேவை வரிவணிக இன்று