Many investors in India are looking forward to the winter session of the parliament. Though the Government of India has eased the trading of cryptos, it is not completely recognized as a currency. Investors expect that the Govt. of India allows the trading and investment in cryptocurrency and a bill to be introduced in the winter session for the same.
Many investors and traders will use cryptocurrency to earn income. As it generates income, it will be taxed. If there is a service involved in the transaction of crypto then GST will be appliable to that. Hence, both income tax and GST may be applicable for crypto trading in India.
Many investors and tech giants around the world believe that cryptocurrency is the future. While a few countries around the world have allowed the trading in cryptos, India has only eased a few rules and regulations on it. It is expected that the winter session of the parliament would bring good news for the investors and traders.
