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.