India’s Crypto Industry Awaits New Budget

“For example if it is a commercial transaction then appropriate GST (good and service tax) guidelines can be levied. If it is an investment, capital gains tax can be levied. If someone is trading crypto very actively, then they can file for taxes as a business. And if at all, a foreign transaction is involved it should be reported to RBI (the Reserve Bank of India, the central bank) under FEMA (Foreign Exchange Management Act) regulations,” Gupta told CoinDesk.

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