India’s Goods and Services Tax Council Considers a 28% Tax on Bitcoin

Indian officials are expected to explore imposing a 28% goods and services tax on cryptocurrencies at the upcoming GST Council meeting. The goods and services tax (GST) Council, which is India’s top decision-making body on indirect taxes, is set to discuss the future of indirect taxes. A legal committee appointed by the GST Council, whose proposal would be presented to the GST Council for official approval, will take up the idea of charging a 28% GST on services and other activities linked to cryptocurrencies as soon as possible. The motion is expected to be introduced at the next GST Council meeting, the date of which has not yet been determined.