India’s 28% Crypto Tax Draws Nearer, Here’s Why #Indias #Crypto #Tax #Draws #Nearer #Heres Welcome to TmZ Blog, here is the new story we have for you today:
India’s Government is set to discuss the levying of a goods and services tax (GST) on crypto transactions next week, reports said on Thursday.
According to a report by Bloomberg, the panel intends to broaden the scope of GST to bring digital assets under its fold.
While the panel has so far not decided on a rate, sources told Bloomberg that crypto may be placed under the highest slab, at 28%. This places the space alongside other items such as luxury cars, tobacco, and aerated drinks.