GST stalemate to continue for cryptocurrencies
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.
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 and Services Tax Council, which is expected later this year, is unlikely to finalise the move.
Consensus has eluded the officials because of the “complexities” involved in the indirect taxation of cryptocurrencies. Officials say they will need "a few more months" to be able to draw clarity on the indirect taxation of virtual digital assets.
"I don't think this subject will be taken up for discussion anytime soon," an official said.
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