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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.
GST authorities have booked a Rs 722.43 crore tax evasion case against crypto exchange and Binance Group Company, Nest Services Ltd, Parliament was informed on Monday.
The impasse on GST levy for cryptocurrency and virtual digital assets continues as tax authorities are likely to seek more time to come up with the right proposal regarding the appropriate tax treatment for the sector, sources told CNBC-TV18. In…
In an alarming development, the authorities in India are grappling with the escalating prevalence of overseas gaming and betting applications that are evading taxes in the country. The GST probe has found out that these firms are converting earnings into…
The proposed move to levy goods and services tax (GST) on cryptocurrencies is set to be delayed as consensus on the modalities has eluded officials from the centre and state governments. As a result, the 50th meeting of the Goods…
GST evasion of about Rs 23,000 crore by gaming companies between April 2019 and November 2022 is being investigated by the tax officers, Minister of State for Finance Pankaj Chaudhary said on Monday. In a written reply to a question…
The Goods and Services Tax (GST) Council in its upcoming meeting would consider two reports – on setting up Appellate Tribunals and decriminalisation of offences. According to sources, the Council could also take up the proposal on lowering the GST…
As cryptos lose sheen and exchanges shut shop, a proposal for a detailed and clearer structure for applicability of Goods and Services Tax (GST) on the currency is likely to be put on the backburner. According to the Tax Department,…
As cryptos lose sheen and exchanges shut shop, a proposal for a detailed and clearer structure for applicability of Goods and Services Tax (GST) on the currency is likely to be put on the backburner. According to the Tax Department,…
The Central Board of Indirect Taxes and Customs (CBIC) has sought from India’s top cryptocurrency exchanges details such as the type of digital coins and tokens being traded and their valuation, and how they are divisible. The body wants to…