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India's Finance Minister Nirmala Sitharaman answered in Lok Sabha that the RBI wants a ban on cryptocurrency, but international consensus is required first
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India's Finance Minister Nirmala Sitharaman answered in Lok Sabha that the RBI wants a ban on cryptocurrency, but international consensus is required first
India's central tax authority issues guidelines to clear up confusion over the application of 1% TDS on crypto assets from July 1, 2022.
How mandatory GST registration specifically hurts the online travel sector was also brought up.
Sitharaman made these remarks on a panel deliberating the role of digital money and its regulatory future.
While there is no clear definition of cryptocurrency in the GST law, the government might be looking to change that.
MPs across the board voiced their opinion on the rights and wrongs of the crypto tax that's set to take effect from April 1.
To add insult to injury, the government recently clarified that loss on crypto assets cannot be offset against gains.
The finance minister also indicated the government's stance on digital banking and IP-related concerns.
The tech industry association, which counts Dream11 and MPL as its members, said that higher tax rates will adversely impact the growth of the...
The government continues to hold deliberations while India's unregulated, burgeoning crypto industry watches closely.
