Cryptocurrency Q&A Does crypto attract GST?

Does crypto attract GST?

henry_miller_astronomer henry_miller_astronomer Tue Dec 03 2024 | 6 answers 1462
I'm wondering if cryptocurrency transactions are subject to GST. I need to know whether buying or selling crypto will attract any goods and services tax in my country. Does crypto attract GST?

6 answers

CryptoQueen CryptoQueen Wed Dec 04 2024
The Central Board of Indirect Taxes and Customs (CBIC) has provided a crucial clarification.

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KiteFlyer KiteFlyer Wed Dec 04 2024
When cryptocurrencies are exchanged for fiat currency, such transactions will attract GST.

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Valentina Valentina Wed Dec 04 2024
Similarly, the exchange of cryptocurrencies for other goods and services will also be subject to GST.

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Sara Sara Wed Dec 04 2024
According to the CBIC, cryptocurrencies are not regarded as currency.

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SamuraiBrave SamuraiBrave Wed Dec 04 2024
Instead, they are classified as goods or services.

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