India: CEIB proposal to levy 18% GST on bitcoin transactions
Description
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According to numerous press reports, an unpublished study on cryptocurrencies by Central Economic Intelligence Bureau (CEIB) concludes that Goods and Services Tax of 18% shall be levied on Bitcoin transactions.
Original sourceScope
Policy Area
Taxation
Policy Instrument
Indirect taxes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies), digital payment provider (incl. cryptocurrencies), digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body