Centre detects Rs 722 cr GST evasion from Binance, recovered Rs 122 cr from other crypto exchanges

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The finance ministry on Monday informed parliament that it has detected goods and services tax (GST) evasion of Rs 824 crore against the crypto exchanges including Rs 722.43 crore GST evasion by Binance Group Company.

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Till date cases have been booked against 17 cryptocurrency exchanges for GST evasion of Rs 824.14 crore and have made recovery of Rs 122.29 crore in interest, penalty and taxes so far, Minister of State for Finance Pankaj Chaudhary said in a written reply..

Read more at: The Economic Times

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