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Network18 Exclusive | GST Council to consider slapping highest 28% tax on cryptocurrencies

Network18 Exclusive | GST Council to consider slapping highest 28% tax on cryptocurrencies

The GST Council is considering levying 28 percent tax on cryptocurrencies and related services, sources told CNBC-TV18. The proposal is likely to be tabled in the next GST Council meeting.

According to the sources, the government’s view is to keep cryptos on par with lottery, casinos, betting and race courses. The law committee’s view will be tabled before the Council for a formal nod.

Also Read: Bitcoin on a tumble, cryptocurrency down 28 percent over the year

The date for the next GST Council meeting is yet to be decided.

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