India: GST on bitcoin transaction in Central Economic Intelligence Bureau (CEIB) study on cryptocurrencies
Progress
Current status
adopted
29 Dec 2020 adopted
Scope
Implementers
India
Policy Area
Taxation
Policy Instrument
Indirect taxes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
CEIB proposal to levy 18% GST on bitcoin transactions
According to numerous press reports, an unpublished study on cryptocurrencies by Central Economic Intelligence Bureau (CEIB) concludes that Goods and Services Tax of 18% shall be levied on Bitcoin transactions.
SourceEvent type
inquiry
Action type
adoption
Government branch
executive
Government body
other regulatory body