{"id":34146,"date":"2020-12-29T13:08:47","date_gmt":"2020-12-29T11:08:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34146"},"modified":"2025-08-28T17:17:49","modified_gmt":"2025-08-28T14:17:49","slug":"indian-regulator-proposes-18-tax-on-bitcoin-trading","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/indian-regulator-proposes-18-tax-on-bitcoin-trading\/","title":{"rendered":"Indian regulator proposes 18% tax on Bitcoin trading"},"content":{"rendered":"<p>The Central Bureau of Economic Intelligence of India (CEIB) proposes taxing cryptocurrency trading at 18%. The agency classifies Bitcoin as &#8220;intangible asset&#8221;, <a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/govt-weighs-imposing-18-gst-on-bitcoin-trade\/articleshow\/80001885.cms\" target=\"_blank\" rel=\"noopener noreferrer\">reports<\/a> The Times of India.<!--more--><\/p>\n<p>The matter concerns a goods and services tax (GST). The government is currently considering the proposal, which envisages levying the tax on each Bitcoin transaction and on margin trading.<\/p>\n<p>A sharp rise in cryptocurrency trading volumes followed the Supreme Court&#8217;s lifting of the RBI&#8217;s two-year ban on servicing crypto companies.<\/p>\n<p>The average daily trading volume on four leading Indian cryptocurrency exchanges as of December 29, 2020 stood at more than $36 million, compared with just under $4.5 million as of March 1, 2020 (according to <a href=\"https:\/\/www.coingecko.com\/en\/exchanges?country=IN\" target=\"_blank\" rel=\"noopener noreferrer\">CoinGecko data<\/a>).<\/p>\n<p><iframe id=\"datawrapper-chart-R5Avu\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Trading volumes on Indian Bitcoin exchanges\" src=\"https:\/\/datawrapper.dwcdn.net\/R5Avu\/2\/\" height=\"203\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Split Bars\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"])for(var e in a.data[\"datawrapper-height\"]){var t=document.getElementById(\"datawrapper-chart-\"+e)||document.querySelector(\"iframe[src*='\")+e+\"']\");t&&(t.style.height=a.data[\"datawrapper-height\"][e]+\"px\")}}))}();\n<\/script><\/p>\n<p>The annual turnover of Bitcoin trading in India stands at $5.45 billion; cryptocurrency remains unregulated. Bitcoin exchanges in the country continue to operate without regulatory compliance burdens.<\/p>\n<p>In July 2020, Prime Minister Narendra Modi said that India should develop the Internet of Things, Big Data, blockchain and 5G.<\/p>\n<p>Earlier, venture investor and billionaire Tim Draper said he was examining the investment appeal of Indian crypto startups.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bureau of Economic Intelligence of India (CEIB) proposes to tax cryptocurrency trading at 18%. The agency classifies Bitcoin as &#8220;intangible asset&#8221;, reports The Times of India.<\/p>\n","protected":false},"author":1,"featured_media":34147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1267,278,36],"class_list":["post-34146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-trading","tag-india","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34146"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34146\/revisions"}],"predecessor-version":[{"id":34148,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34146\/revisions\/34148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34147"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}