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RE: Indian Bitcoin Exchanges Face GST Conundrum!
I overheard that sooner or later Indian Authorities might not legalize Bitcoins along with other cryptocurrencies. I haven't heard that Government has declared it as illegal trading nor did it say legal to use.
Now, just for an example, in near future, authorities decide to shut down all exchanges and other activities on these digital coins, then what would happen with the invoice receipt at the time of investing money to the exchanges with GST and all. If CRYTOS are of Illegal trading then why pay TAX to Govt or why the hell GOVT. taking TAX on illegal products.
I think government will enjoy the GST and income tax for couple of years. Till then most of the countries will have their cryptocurrency regulations in place. India will simply mix and match them to comeup with their own regulations. They definitely can't keep Indians away from a world wide revolution.