https://www.taxtmi.com/article/detailed?id=11966 Cryptocurrency exchanges with fiat currently attract GST because cryptocurrencies are treated as virtual digital assets and taxable as supplies of goods. If the monetary authority recognises cryptocurrency as currency, it would qualify as money and fall outside goods-and-services GST treatment; exchanges would instead fall under the separate foreign-currency exchange GST mechanism, yielding a nominal transaction-based levy rather than ordinary GST rates. en-us Tue, 17 Oct 2023 08:43:32 +0530 Tue, 17 Oct 2023 08:43:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11966 Cryptocurrency exchanges with fiat currently attract GST because cryptocurrencies are treated as virtual digital assets and taxable as supplies of goods. If the monetary authority recognises cryptocurrency as currency, it would qualify as money and fall outside goods-and-services GST treatment; exchanges would instead fall under the separate foreign-currency exchange GST mechanism, yielding a nominal transaction-based levy rather than ordinary GST rates. Articles Goods and Services Tax - GST Tue, 17 Oct 2023 08:43:32 +0530 https://www.taxtmi.com/article/detailed?id=11966