India: both Income tax and GST may apply to crypto
ambcrypto.comThe Indian government is likely to levy both direct and indirect taxes on crypto assets, as per a local report. A source to the media outlet noted,
“One of the key issues is taxation. If there is gain or income from crypto, it should be taxed per capital gains rules. Similarly, if there is service involved in the transaction, then GST needs to be levied.”
The news comes ahead of the upcoming Winter Session of Parliament, where a comprehensive crypto bill is expected to be tabled. Investors can reportedly expect guidance on crypto income tax and Goods and Services Tax (GST) in the draft.
The November session is considered crucial for the country as India has softened its stance on the matter lately. While reports claim that India will not grant
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