The government has started work on a comprehensive indirect tax regime for crypto assets that would check any revenue loss to the exchequer due to the ambiguity around the true nature of these assets.
The finance ministry plans to define the characteristics of cryptocurrencies, their usage, and how they fit into the existing legal framework, two people aware of discussions in the government said. Once its legal nature is decided, the appropriate GST rate will be decided, they said, requesting anonymity. It could even be a new GST slab between 18% and 28%, they added.
Source Livemint
