Latest News Archives - Crypto News India

18 Dec

Czech Republic Exempts Long-Term Digital Asset Investments

admin0 CommentsBitcoin, Cryptocurrency, Latest NewsBitcoin Tax, Czech Crypto Tax Exemption, Global Crypto Trends

From Tax Breaks to ETFs: How Nations Are Embracing the Crypto Economy The Czech Republic has taken a significant step to foster digital asset adoption with a new law that exempts capital gains taxes for cryptocurrencies held for at least three years. Passed by the Chamber of Deputies, this legislation aligns with the European Union’s Markets in Crypto Assets (MiCA) framework. Prime Minister Petr Fiala highlighted the bill as a move toward simplifying taxation while promoting modern technology in the country. Under the new law, Czech citizens no longer need to report digital asset transactions in their tax filings if…

India Intensifies Crackdown on GST Evasion in Cryptocurrency Exchanges

admin0 CommentsCryptocurrency, Latest NewsCryptocurrency, GST, GST Evasion

India Tightens Grip on Cryptocurrency Exchanges to Ensure Tax Compliance and Accountability The Indian government has uncovered Goods and Services Tax (GST) evasion worth ₹824.14 crore across 17 cryptocurrency exchanges, marking a significant escalation in its efforts to regulate the rapidly expanding crypto industry. This revelation was made by the Minister of State for Finance, Pankaj Chaudhary, and underscores the authorities’ focus on ensuring compliance in the cryptocurrency ecosystem. Major Exchanges Under Investigation Among the 17 exchanges under scrutiny, several prominent platforms have been flagged for significant GST evasion. The largest reported case involves Nest Services Ltd, part of the…

Government Uncovers Rs 824 Cr GST Evasion by Crypto Exchanges

admin0 CommentsCryptocurrency, Latest NewsBinance, CoinDCX, CoinSwitch Kuber, Crypto Exchanges, WazirX

Government Detects Rs 824.14 Crore GST Evasion by Crypto Exchanges, Recovers Only Rs 122.29 Crore The government has uncovered Goods and Services Tax (GST) evasion worth Rs 824.14 crore by several crypto exchanges, including Binance, WazirX, CoinDCX, and CoinSwitch Kuber. However, only Rs 122.29 crore has been recovered so far, including interest and penalties, according to a written statement by Minister of State for Finance Pankaj Chaudhary in Parliament on Monday. The Binance group company, M/s Nest Services Limited, was identified as the largest violator, accounting for Rs 722.43 crore of the total evasion. The finance ministry has yet to…