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2161  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: January 04, 2021, 08:58:11 PM
I would never say that they are weak bowling side. They are in top 3 in the world cricket and were looking at top form before they lost the 2nd game. And their bowlers didn't perform bad at all, their batting looking vulnerable because Smudge (smith) is not performing.

The way i see it, world cricket going through some phase of average batting from every single team but not bowling.

You are right. The problem is with their batting and not with their bowling. The same set of bowlers blasted out India for 36 runs in the first test. And let's not forget the fact that the playing XI had players such as Virat Kohli, Ajinkya Rahane and Cheteshwar Pujara. The bowlers can't do much, when the batsmen are performing so poorly. First they should fire their captain (Tim Paine) as he is not contributing for a long time.
I feel you are ignoring his contribution in the Australian squad. He led the team when they were in big crisis due to Smith-Warner ban and at 1st test he scored 70+ runs, which earned him man of the match award.

I have to disagree with you on this one. Tim Paine has underperformed in test cricket. His test batting average is just 32.20 and the only test player with a regular slot in the playing XI with a lower average (as far as I can remember) is Temba Bavuma of South Africa. A 36-year old with sub-40 batting average in test? I think some younger player deserves that slot.
Tim Paine is in the squad merely due to the fact that he is a wicket-keeper batsman. Australia doesn't have a batter wicket-keeper batsmen with them. They tried Nevill but he hasn't batted well same is the case with Alex Carrey. They earlier had Mathew Wade but even he isn't a great performer in Test Cricket. Only one player who has a better batting average than Tim Paine in test cricket is Peter Handscomb but I don't think he is considered a full-time keeper moreover Tim Paine is much more experienced at least at the domestic level and after that Ball-Tampering Incident, they aren't left with lot of options for captaincy too. I don't think Australia has got any legendary Wicket-keeper batsmen after Gilchrist. Brad Haddin was good but nowhere near Gilchrist.
2162  Economy / Trading Discussion / Re: How to trade after all time high on: January 04, 2021, 08:45:38 PM
Can anyone please suggest that, how should we trade when Bitcoin or any token is above it's all time high.

At that time we don't have any charts,so we should trade with the help of indicator only.....
An Excellent question I have to agree. It's because Technical Analysis generally work on the concept of studying the past patterns and developing future trends on the basis of that data. But when you see an all-time high there is nothing no data west to that and that is a pretty big issue. I generally follow this strategy whilst trading ATH:
Idea is to get the point until when stock would climb and then reverse. Steps you can follow for the same are:
1. Check if stock is within any trendline. If it's within a trendline chance is it would follow the same trend.
2. Calculate the target of the breakout by measuring the previous pullback. You can use Fibonacci levels for the same.
3. Take the help of RSI to see the overbought zone and check for any divergence from the previous high.( Finding divergence is a bit difficult as you don't have the topmost point yet)
2163  Economy / Economics / Re: Loan scam in India allegedly headed by a Chinese Narional on: January 04, 2021, 06:11:38 PM
A loan scam amounting to INR 21,000 Crores (USD 280 Mn) has been doing the round in Indian media.

The report here alleges that some transactions also used digital wallets:

Link1
Link 2

What they found was a record of several transactions amounting to a total of 21000 Crores in form of lending and borrowing with high rates of interest. This was being run by a Chinese national using android apps ans a network of call centers in India.

I wonder if any of you have come in direct contact or know someone who has interacted with these people. It seems like a network of P2P lending which turned sour due to the sheer scale and harassment of borrowers which even led to a tech worker's suicide.



I am surprised such things don't get spark in mainstream media. A scam worth suge high isn't shown on tv by any channel and merely reported as news article. i think that's too reported merely because there is a Chinese connection. But coming back to the point I am surprised to see such a huge number of 21000 crore. I believe this would be the worth of total loans. These media houses have a habit of attaching huge number to make stories look attractive. This must be the amount of loans these people must have given. And when they are demanding their own money back they have been made the culprits of the whole thing. Technically, almost every NBFC in India does the following.
1. Charges exorbitant rates as high as 20-30%
2. Harras users when they don't repay back the money

Technically the only fault they did was not registering themselves with RBI and meeting the statutory requirements.

I think all the people talking and comparing this with bank loans Don't really know the concept of NBFCs in India. The people who are not able to get loans through banks generally approach such NBFCs. Sub standard loan groups are generally catered by these companies but their registration is mandatory by law.
2164  Local / India / Re: Beware of such Ponzi Schemes in India on: January 04, 2021, 05:21:38 PM
Haha. It's interesting how people can plug in that same multi level marketing concept in almost any concept and make it look like an excellent scheme. The tron thing is sheer foolishness? Why would someone give money to get interest in 12 months of the same money which they already own? Cheesy

But on the serious note we can create a common ponzi scheme thread for any new person who wants to see if some scheme is original or not. I think you should give name of these websites too.
2165  Economy / Services / Re: [OPEN] Nakitcoins.com Signature Campaign | Sr. Members+ | Starts Jan. 4th! on: January 01, 2021, 06:03:28 AM
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=137767
Current amount of posts (including this one): 2218
Amount of EARNED merit in the last 120 days: 39
bech32 BTC Address for Payouts: bc1qxkj0eywaet5sj8r0yeka74j06sp39t2906z0rx

Will change sig if selected
2166  Economy / Speculation / Re: No Resistance From $30K-$40K? on: December 31, 2020, 08:56:41 PM
I think most people don't know the concept of Pivot points. Supports and resistances are horizontal lines formulated on charts which are made by joining at least the previous two reversal points. This means there has to be some kind of trading in that area to create a pivot point in that area. Bitcoin never crossed 20K in the past which means we have no information about these points whatsoever. Any targets in such situations are taken on basis of other indicators and strategies like Elliot waves or something. The best we can have is the upward part of a trendline however the type of steep movement we have had recently I doubt even a trendline would be suffice to justify targets in such a situation.
2167  Economy / Gambling / Re: 🔮 Futuur - Predict the Future! 🔮 on: December 31, 2020, 07:56:45 PM
Well I have made a pretty safe bet couple of days ago. I am sure a negative Interest rate isn't going to be a practical option for the US Economy and its survival but as trying this for the first time so going with Play money only. Let's see
2168  Economy / Economics / Re: Macro effects of gold stored in a metals depository versus btc on an exchange on: December 31, 2020, 07:42:26 PM
You are actually correct there isn't much of a difference. Both the exchange and a depository would merely tell you your depository number/wallet address but won't give you the key instead would allow you to transfer the same to another exchange. To explain you the process:

1. Every exchange generates a unique address for you from their set of addresses to which they hold the private key. While they connect that address to your specific account.

2. In this manner when you receive something at your address it would directly reflect in your Exchange account.

3. One very different thing is that most exchanges would charge a heft withdrawal fee which would be absolutely different from what would have been charged if you had the private key wallet and send it on your own.

4. You own the address and Exchange holds your private key. So technically giving your private key to the exchange is similar to keeping your coins with someone else because one who has the key to the locker has complete access to it. So technically user just has an IOU agreement. There have been quite some scams in this area too.
2169  Other / Beginners & Help / Re: BITCOIN FORUM account opened today. So many questions.......lets talk anonymity on: December 31, 2020, 05:15:39 PM
Talking about Mixers and as you are new to the forum I would give a caveat from my side, I have recently seen agencies especially in the US don't have a very positive attitude towards these mixers. I have read a lot of news where the Mixers owners were actually arrested for operating these mixers but no such news is heard about the users.
This is something that's unfortunately becoming more and more common, but if you start using mixers and breaking the chain then I honestly don't think it makes sense, after breaking it, to send the coins again through mixers. You either go anonymous or you don't.
Yes Mixers are a pretty safe option to break the chain but what I am trying to explain is that maybe authorities these days are trying to decode this mixing process too. I have seen in a few cases a couple of mixers were decoded.
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While on an exchange I think it's safe but that seriously depends a lot on exchange to exchange. It's not that difficult to trace out your Deposit & Withdrawal History once they have your exchange account.
It might be "safe" (depends what you mean by that), but it's not privacy-enhancing. In fact, it is most often the opposite. Once your IP is recorded with a withdrawal request, they know it's also you who deposited. Sending money from exchange to exchange is like moving money from bank to bank hoping the government will not find you.
It's not that easy. Governments aren't just two common people or companies. If an exchange is situated in some other country and another country wants to request some information it has to go through a pretty lengthy process and there has to be a bilateral treaties between the countries. Moreover, Most of the exchanges are located in These tax heavens which are not willing to share information about their companies too quickly. All this happens considering the amount of fraud involved. They aren't going to go through this process for a few hundred thousand dollars because all this takes some cost.
2170  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: December 31, 2020, 05:08:10 PM
I think there needs to be made a balance in the team obviously dropping Pujara and Rahane to fit in KL Rahul in the side is a bit foolishness. But keeping a player in the squad for no reason doesn't makes sense. Moreover KL Rahul isn't the only example there are many other players Karun Nair is also such an example. It's just too much competition in the team to choose the best among best. Even Hanuma Vihari has similar statistics to that of Rahul. I think it's just that everyone has their own favourites including us and the selectors.

Pujara and Rahane are players who are more suited for the test format, while KL Rahul is more suited for shorter formats such as T20Is and ODIs. But I agree that there is a lot of competition for every slot in the national team. The player pool is huge and there is no dearth of talented players. And this means that despite having a lot of talent, if you don't enjoy the patronship of Kohili/Shastri, you may not feature in the team.
True indeed. And let's not blame it only on Kohli-Shastri. Everyone knows how there was a special CSK quota in the team at time of Dhoni it's because he was more suited with certain players especially with those whom he played in IPL. On the other hand KL Rahul got all hi chances in test at time of Kumble. After Shastri stepping in KL Rahul hasn't played a lot of test matches So i feel it's a pretty old tradition that's just going on.
2171  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: December 31, 2020, 05:03:50 PM
Pakistan lost the game but they fought well there, at least for draw if not for win. 2 previous visitors India and Windies lost badly there. I hope now PCB and misbah (PCB especially) give some respect to Fawad Alam. He's debuted in 2009 and played only 6 tests so far (2 100s).... you can imagine the drama here.

They lost the match my a considerable margin (101 runs), and just one more test match remains in this series for them. They lost the T20 series 2-1, and now they have lost the first test match. Individual brilliance was shown by a few players, but they need to win the matches to regain their lost glory. Fawad Alam is 35 years old, and I am not sure how much international career is left for him.
I was implying that PCB ruined his career with the petty politics and completely ignored him for 1 decade but he's still fighting despite his age.

I think there needs to be made a balance in the team obviously dropping Pujara and Rahane to fit in KL Rahul in the side is a bit foolishness. But keeping a player in the squad for no reason doesn't makes sense. Moreover KL Rahul isn't the only example there are many other players Karun Nair is also such an example. It's just too much competition in the team to choose the best among best. Even Hanuma Vihari has similar statistics to that of Rahul. I think it's just that everyone has their own favourites including us and the selectors.
I am not against favoritism overall if players performing every now n then but if any player failing on regular basis then its a red flag. You are giving long rope to some players and keeping some out because they failed couple of times. (Karun,Ashwin,Hanuma, Bhuvi etc)

Rahul already got countless chances at the top order at-least 13ish tests (26 innings) continuously despite failing in majority of games, his only 100 came when team didn't have anything to lose. If in next game KL Rahul gets another chance at the top order then its possible that Rohit might replace Hanuma Vihari at the middle order because he's considered a blue eyed boy. Its also possible that this could click in favor of team but not fair in long run when selecting team. I know Hanuma Vihari didn't have big numbers to show but he always batted according to team requirement. He was asked to open in tough condition when every opener failed to perform and even batted down the order when team needed, so far he proved himself worthy at the number 6 in his 10ish test career.  

I agree we have fair amount of players contesting for top order, (Mayank-Shaw are out of form) Rahul failed so far and Rohit is yet to tested in SENA countries, that's why i want to see Rohit at top order in the next test and prove himself if he's capable to bat against new ball or not. He did exceptionally well in sub-continent but he's not alone and list is freaking long for Indian batsmen.  
Rohit I think will definitely get a place in playing XI it's not merely because of his performance but the morale that he gives to the team. The folks in the team would feel much more confident with Rohit in the squad even thought he isn't that good in tests but he still is one of the best batsmen in other formats. He adds a lot of confidende especially if he comes in top order. Instead
I think if Hanuma Vihari is dropped he isn't going to get a lot of chances after this. He doesn't has that favouritism amongst selecters and also doesn't has a place in ODI or T20 to prove himself back. Most probably he would become just another name like Karun Nair or Wasim Jaffer maybe.
2172  Other / Beginners & Help / Re: BITCOIN FORUM account opened today. So many questions.......lets talk anonymity on: December 30, 2020, 08:30:42 PM
Even though this should be in Beginners & Help rather than being here. But coming back to the point I think it's better that you use a mixer to clean the slate. I have seen some people have mentioned XMR. Definitely, Monero is the safest among the rest of the cryptos and most anonymous. Talking about Mixers and as you are new to the forum I would give a caveat from my side, I have recently seen agencies especially in the US don't have a very positive attitude towards these mixers. I have read a lot of news where the Mixers owners were actually arrested for operating these mixers but no such news is heard about the users. While on an exchange I think it's safe but that seriously depends a lot on exchange to exchange. It's not that difficult to trace out your Deposit & Withdrawal History once they have your exchange account.
2173  Local / India / Re: Government to impose 18% GST on bitcoin trading on: December 30, 2020, 08:06:05 PM
The whole purpose of ITC is to avoid the double counting problem. The process makes sure that the tax is only levied on the value-addition at each step of production. But it would be insanity to apply the same system on economic activities like trading. Unlike the normal production of goods and services, trading doesn't have fixed production cycle. The supply goes on and on from one trader to another continuously. No new value will be added in most of the transactions. If the average price of bitcoin remains constant throughout the year, the government will end up with nothing but Avg. Price of Bitcoin * No. of bitcoins on Indian Exchanges * 18% less ITC Liability remaining with buyers which I think would be much-much less than Rs. 7200cr.

And what if I inject new supply to the Exchange? Unlike stocks, cryptocurrencies can be easily traded P2P. If I just buy bitcoin off-exchange, deposit it to exchange, sell it on exchange, buyer pays the GST and claims ITC, I am out without any GST implications and government ends with zero revenue (lol). It would be much simpler to ask trader to simply deposit periodical GST on the profits made as per profit report provided by the Exchange rather than having thousands (or even millions) of buy/sell transactions to be reported on portal regularly (that would be hell of the reporting), when both systems would result in roughly same GST collection for the government.

On the side note, imagine if government failed to apply GST on trading of stocks and shares (which are very well traded on official platforms), how in the world it thought that it would be nice idea to collect GST on cryptocurrency trading, lol.
But if we are talking this way technically there can be no Indirect Tax on something you cannot consume. Because the burden of tax goes on the end customer and here there is no end customer? Hmm. Interesting. Things are much more complicated than they look. But I don't think there would be a separate collection mechanism, especially for cryptocurrencies. It would be like making new types of indirect taxes by the name of Goods and Service tax. Wasn't this the very purpose of GST to remove all other Indirect Taxes? I think imposing any kind of tax would be like killing the market as a whole. It's a foolish plan altogether designed to crush this speculative market but most of the people will just shift their trading to foreign exchanges outside the jurisdiction of India you can't levy GST on that obviously.
2174  Economy / Economics / Re: China Economy Forecasted to Surpass US Economy by 2028 on: December 30, 2020, 07:41:41 PM
Quote
The Chinese economy is expected to surpass that of the U.S. in 2028 - five years earlier than previously forecast - following fallout from the coronavirus pandemic, according to an analysis released Saturday.

Source:  https://www.msn.com/en-us/news/world/china-expected-to-surpass-us-economy-in-2028-analysis/

As stated, this is 5 years earlier than last projected, due to the effects of the pandemic. The US is not going to like being in the number two spot, and even less when India’s economy then surpasses the US after that. The biggest benefit to this massive Asian economies is the sheer number of people. The United States’ best hope of competing is to increase the number of Americans and, and quickly.

The US should be drastically overhauling the skilled worker visa program to greatly increase the number of tech workers brought into the country so that the next tech mega companies are created here, and not in Asia. This is should be viewed as an area of national security. Larger militaries inevitably follow larger economies, and the US can not afford to squander the advantages while they still have them.
I think one thing this unexpected event like Covid-19 has taught is that south things can go from what is planned. But I believe one thing is going to happen post-pandemic is that the metrics of the Economy are going to change drastically.  A mere economic strength really means nothing these days. It's the per capita GDP and HDI which needs to be the real metric of measuring economic development. The Gap between rich and poor in Asian countries is drastic. India being such a superpower still has at least 10th of its population under poverty which is the official metric and I believe this number might go up after the pandemic. I think globally too economists should focus on decreasing the sparsity between rich and poor and not mere industrialization in hands of big guns.
2175  Local / India / Re: Government to impose 18% GST on bitcoin trading on: December 30, 2020, 05:02:49 PM
~snip

So you mean Government will tax bitcoin just like how other goods are taxed in the current market. Well then it would be a long debate before this one actually becomes a law.
So I guess we have a lot of time before this law is implemented in the market.  Grin
Haha I would have said this if it was any other government. But this government has a bit different approach to thing which no one likes. This government just creates a law and then thinks about it's implementation. GST law in itself was framed in haphazard manner and it's proper implementation is still a far fetched story. Same is the case with any other law introduced by this government. So I think in this case too we will see a similar thing. They will just introduce the law and let the market think about it's implementation.
2176  Local / India / Re: Government to impose 18% GST on bitcoin trading on: December 30, 2020, 04:51:44 PM
  • First of all there is no clarity as to what would be the taxable value on which GST would be levied? Will it be the whole amount of Bitcoin you purchase on an exchange or will it be only on brokerage or something specific like that

It doesn't make any sense to charge 18% GST on the whole amount bitcoin purchase. Imagine a person buying 10k INR worth bitcoin and selling it at 12k INR which means 20% profit but if he would pay 18% to the Government then it would make any sense to earn those profits. Another scenario is what if he buys and sells in a loss. Adding 18% to it would create a huge impact to his loss.
So taxing the whole bitcoin amount is out of the scope here.
Actually no it won't work this way. It would be like you are a metals trader trading in metals. Now if you buy 10k INR worth Metal you pay a GST of 1.8K @18% to the person you are buying it from taking your total cost to 11.8K this will be called your ITC. but when you sell it for 12K you will collect 18% GST from the purchaser which means 2.16K INR. But now you will have to deposit 2.16k - 1.8K(which you paid on purchase) = 0.36K to the government. Therefore net you are paying an 18% tax on the profit you made but the mechanism works that you collect tax and deposit it to government after claiming ITC
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  • Second is who will be liable to collect and pay this GST? Its obvious burden would be at the end on the person buying BTC but what about a seller? This way I would more or less become a bitcoin businessman. When I sell it to someone I charge 18% GST and take ITC of the amount I purchased. This would be a relief as this would mean you will have to give 18% cut out of profits and not out of the total sales value. But this would mean each one of us will have to take a GST Number and file monthly GST returns making the process pretty cumbersome.
  • Another option could be that exchanges are given this authority to collect GST at the time of each sale purchase but that too doesn't make a lot of sense.

What I think is that the Government is planning to tax the profits made on every/sell. In this case the buyer and seller wouldn't have separate taxes levied on every purchase but rather the tax would be levied on the cumulative profits. Further more, I think that the tax would be levied when we withdraw the profits to bank. This way the exchanges wouldn't have to collect the tax. It would be the user who would have to apy the taxes.
It could be the other way around but I guess it would be better this way.
But that cannot be said as GST. GST is charged on "Supply of goods and services" withdrawing funds to your bank account isn't a supply so it would become pretty easy to challenge such a thing in courts. They won't make this easy of a law.
2177  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: December 30, 2020, 04:43:05 PM
~snip~
I think one tour is just too less to judge whether someone is a good fit for a location or not. Yes, there is cut-throat competition at this point in time in the team to get a spot in the playing XI but you never get top players by just giving them chances in 8-10 matches. The Rohit Sharma we know today got countless chances before he could prove himself as one of the best ODI batsmen in the world. Even Players like MS Dhoni didn't scored a century in the very first tournament. I think judging players merely on the basis of one tournament is a pretty bad criteria. But the competition is so damn high even our India-A team could somewhere be at number 4-5 in the world.
This is 3rd tour for KL Rahul, his first tour was way back in 2014-15. In last away season 2018-19 Indian management gave him complete season despite his failures. He failed in SA, England , somehow he managed to score ton in the last game, it was lost game so this ton doesn't count much but because of this 100 he again got chance in Australia and failed miserably. Just to give you example of his backing, Kohli-Shashtri dropped Pujara, Rahane and Bhuvi in few games just to fit Rahul-Pandaya in the team, result India failed to win in SA and England, India was supposed to win in SA 2-1 and 3-2 in the England.


I think there needs to be made a balance in the team obviously dropping Pujara and Rahane to fit in KL Rahul in the side is a bit foolishness. But keeping a player in the squad for no reason doesn't makes sense. Moreover KL Rahul isn't the only example there are many other players Karun Nair is also such an example. It's just too much competition in the team to choose the best among best. Even Hanuma Vihari has similar statistics to that of Rahul. I think it's just that everyone has their own favourites including us and the selectors.
2178  Other / Politics & Society / Re: Video Game Addiction, a very real problem. on: December 29, 2020, 08:46:56 PM
...

Wow. To be honest I actually was not aware of how large viewer base was. But still video game addiction can be a problem because these companies will purposely design their product to be addictive. Realistically it’s about the most harmless addiction there is so it’s not like it hurts anybody else.

My main point was mostly about video game addiction because clearly there are some positive benefits to video games like bringing people together or a potential way to create jobs.
I think addiction is an addiction I have never seen anything like harmless addictions. Frankly speaking the way UX designing has developed these days every product is designed in a way to make the consumer habitual. So wherever you get dopamine you seem to create an addiction for that thing. If we are going to see if something is good or not merely on the basis of bringing people together and potential ways to create jobs even the brothels could be justified. Even the gaming segment now has seen a sharp shift into sub-sectors like VR gaming, Mobile Gaming, and traditional Video Gaming on Console/PS/Xboxes to a whole new sector of these gaming championships. Frankly speaking we and are the main product for this sector.
2179  Local / India / Re: Government to impose 18% GST on bitcoin trading on: December 29, 2020, 08:24:37 PM
Nicely explained! Even I was shocked when I read the news earlier today. It really doesn't make sense to charge indirect tax on trading.

First of all there is no clarity as to what would be the taxable value on which GST would be levied? Will it be the whole amount of Bitcoin you purchase on an exchange or will it be only on brokerage or something specific like that

As per the report, they are suggesting to levy GST on margin made in trading. But at the same time, they are saying that GST will be levied on all transactions. So it doesn't make sense. Are they saying that only those transactions are subject to GST on which trader has made profits? How will they determine buy price if I bought bitcoins 'n' number of times before selling? I think they are misunderstanding how bitcoin works.




If they wanna charge GST, it would be much better that every trader files periodical return by depositing GST on net profit made during the period. And GST rate should be lesser (5% maximum).


I don't think it's going be this fancy they are just going to classify it as intangible asset and just like you have a business of purchasing and selling softwares or other intangibles you will have to collect and pay GST to the government @18%. Talking about the rate the Bitcoin industry isn't that large at the moment that it could lobby or leverage itself with the government and neither does it directly affects the lives of the common man. So I am thankful they are keeping it at 18% and not 28%. They don't care about the market they anyway wanted to stop it.

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  • Second is who will be liable to collect and pay this GST? Its obvious burden would be at the end on the person buying BTC but what about a seller? This way I would more or less become a bitcoin businessman. When I sell it to someone I charge 18% GST and take ITC of the amount I purchased. This would be a relief as this would mean you will have to give 18% cut out of profits and not out of the total sales value. But this would mean each one of us will have to take a GST Number and file monthly GST returns making the process pretty cumbersome.

I don't think ITC can be applied here. Since, the proposal is about charging the GST on profits, the buyer won't know how much GST is to be charged on the trade. So, the logical step would be that the seller bears the burden of GST by paying off the percentage of GST from his earned margin.  


It would make the whole process more cumbersome. Indirect taxes have lesser collection costs to the government as compared to Income Tax and that is due to the basic reason that turnovers aren't that easy to hide as payments made by the buyer to seller can be direclty reconciled and the burden passes so even the Seller isn't much worried. Making GST on net margin would be like giving a big deal of subjectivity to every taxpayer. An already shady industry in eyes of the government won't get this much freedom in paying GST. Moreover reconciling profits is fine when you trade merely on one exchange but If I brought on Binance and sold on WazirX it makes my declaration absolutely arbitrary and almost impossible to reconcile unless by a proper assessment by the officer. This is the sole reason why ITC concept was introduced and not simply pay tax on the value you add to the product.
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  • Another option could be that exchanges are given this authority to collect GST at the time of each sale purchase but that too doesn't make a lot of sense.

Third-party collecting and depositing GST on the taxable supply made by one party to another, that would quite an exception to add in GST Law. Good luck future CA students. Cheesy



Haha no, most probably the system here would be like an OTC Exchange. A seller sells to the exchange and a buyer buys from the exchange. Something we used to see on Zebpay back in the initial years. So the burden ends on cunsumer but liability and collection would be with exchange/wallet.
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  • But one good news that comes with this news is that at least bitcoin isn't getting banned. Because the government wouldn't mind a 7200 crore of additional Income.
I am still wondering how Bureau came up with that figure. As per Times of India article, Rs. 40K crore is the estimated annual bitcoin transactions value. It doesn't make sense to levy GST on transactions. Or is this total trade volume, then again it doesn't make sense to levy GST on total volume. [/list]
Haha yeah even I am confused how they brought up this amount. I am surprised to see figures this high but a GST on total volume would really hurt a lot. Bitcoin would completely lose it's essence as a security.
2180  Economy / Gambling discussion / Re: Test Cricket Prediction and Discussion Thread [self - mod] on: December 29, 2020, 08:09:07 PM
link=topic=5168384.msg55964464#msg55964464 date=1609215628]
Mayank is 13 match old (3 100s + 4 50s + average 50) and Shaw is 5 match (1 ton+ 2 50s + average 42). Mayank had average of 65 in 2018-19 Australian tour, its first Australian tour for Shaw. They both have good record in the domestic, so i wouldn't say they are over hyped but yeah they are definitely going through some bad form.

Shaw is already replaced by Gill and i think if Rohit Sharma is fit then he should also replace Mayank, although Rohit has no match practice. I hope they don't replace Hanuma, i agree he's not performing according to his reputation but he's fine batsman when batting at middle order.

Umesh Yadav is injured so we might see another debutant in the next game. Hope this time Natarajan.


I am surprised no one is talking about KL Rahul. He already is in a good form played well in T20 series. If only keeping is a thing KL Rahul is a better keep than Rishab Pant. I feel that instead of Rishab, KL Rahul deserves a much better spot in the team. After return of Rohit Sharma it is understandable that he won't get a chance to open so he should be tried somewhere in middle order. Mayank Aggarwal has a good track record if you drop someone with this good track record his morale would definitely fall a lot in long term.
KL Rahul had a very bad outing in last tour of Australia, he managed to score only 70ish runs in 3 games and he was selected due to his IPL performance. My first choice is Mayank then Shaw, Rohit and then Rahul. Mayank and Shaw are in bad form so sometimes break helps young players. I have already seen enough of Rahul in SENA countries, there is no doubt that he's great talent but tbh in test format he didn't impressed anyone at all except Kohli and Shastri. It would be very bad call if KL Rahul keeping in the test as he's new keeper even in limited overs cricket and test cricket keeping is not an easy task. In SENA Pant should be their first choice without any doubt.

I am not big fan of Rohit Sharma in the red ball cricket, may be in subcontinent but in SENA countries as an opener? it's big no for me. IMHO he's not good batsman when ball starts moving or swing. Having said that I don't mind if team management want to try him as an opener, but only if they are willing to try Sehwag type of experiment similar to Sehwag because you never know and he deserves at least 1 chance as opener in Australia. If he clicks then he could play for next 2 year most as he's already 32ish. If this experiment fails then tell him to focus on limited overs cricket only.

Rahul and Rohit could fit in middle order though but Indian middle order ( Pujara - Rahane - Vihari) is good, Would say it's best package India got right now as far as SENA countries are concern.

@Vishnu I think you clearly forget his last outing? Numbers are not in his favor but he made some useful runs according to team needs, some time spending time at crease is equally important.

As far as I remember Nair was opener, not sure what's the connection between opener and middle order batsman selection? Selection doesn't work like that.



I think one tour is just too less to judge whether someone is a good fit for a location or not. Yes, there is cut-throat competition at this point in time in the team to get a spot in the playing XI but you never get top players by just giving them chances in 8-10 matches. The Rohit Sharma we know today got countless chances before he could prove himself as one of the best ODI batsmen in the world. Even Players like MS Dhoni didn't scored a century in the very first tournament. I think judging players merely on the basis of one tournament is a pretty bad criteria. But the competition is so damn high even our India-A team could somewhere be at number 4-5 in the world.
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