Taxation Of Cryptocurrencies In India

[mybtccoin]

The government is planning to impose 18% goods and services tax (GST) on bitcoin transactions, estimated to be around Rs 40,000 crore annually. The CEIB has suggested to put the bitcoin under the intangible asset and treat it as current asset to charge the GST.
Although imposing rules on the unregulated crypto exchanges could be a bigger challenge for the government.