India Considers Retroactive Tax On Cryptocurrency Trades

News, Regulation | May 24, 2018 By:

The government of India is reportedly considering imposing an 18 percent goods and services tax (GST) on cryptocurrency transactions.

According to Bloomberg, citing a source with direct knowledge of the matter, the Central Board of Indirect Taxes and Customs (CBIC) of India is working on a proposal to apply the GST to cryptocurrency trading as they could be classed as intangible goods.

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ICICI Bank’s Blockchain Trade Finance Platform On-Boards Over 250 Corporates

Announcements, Blockchain | April 18, 2018 By:

ICICI Bank, India’s largest private sector bank by consolidated assets, has on-boarded more than 250 corporate customers to its custom-developed blockchain platform for domestic and international trade finance.

In 2016, ICICI Bank partnered with UAE-based banking group Emirates NBD and successfully executed pilot transactions in international trade finance and remittance using blockchain technology.

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