Crypto & Indian Taxation system

The Current Scenario

As per the existing taxation system, Indian users have to pay 30% tax on capital gains & 1% TDS on every crypto transaction.

Decline in Transactions

After the announcement. The  volume of transaction has declined in India & users are switching to foreign exchanges

Crypto & GST tax Slab

Acc. to a report by Livemint, the govt. is planning to introduce GST tax slabs  to shape indirect tax on crypto assets

The GST Tax rate

The GST tax slabs rate could be anywhere between 18 to 28 per cent.

Where it will be applied?

The GST will only be applicable on the margin or service fees, and not on the entire value of the asset.

What about Crypto ban?

Right now, there's no news on crypto ban in India but the focus is on taxing the crypto assets in a structured manner.

What about US?

The US has introduced a crypto framework. Swipe Up to check the details

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