Will New Policy Of GST will effect on bitcoin usages?

[Official Blogger]

Will New Policy Of GST will effect on bitcoin usage in India or a and peridiction on rate change in bitcoin price

[karan1498]

It will not effect BTC usages , might affect price in India due to GST taxes thats it .

[S_D]

Will New Policy Of GST will effect on bitcoin usage in India or a and peridiction on rate change in bitcoin price

Am not sure on the usage however, I believe huge premiums on bitcoins once the guidelines are released by the authorities as more market will be willing to invest in cryptos once they are assured that authorities aren't bringing the ban hammer.

[niisarearning]

GST should be goods and tax service even its not included income tax may people having wrong understanding between  GST-Goods and tax Services and Income Tax and TDS . May the earning comes under TDS if your using exchanges to buy and sell bitcoin. You have to consult exchanges for their rule or fees after GST that may make bit difference.

[Official Blogger]

Thanks for your reply

[sedrick]

GST will never have any effect on bitcoins. Gst policy is brought into effect for goods and services. If there is something which will affect bitcoin is only Tax.

Tax on bitcoins deponds on how btc is goin to characterized wheather as a currency or as an asset.

 Tax will not be applied on btc because BTC is not legal in india.However, currency in india is understood as coins, currency notes, bank notes, etc., and other such instruments which are issued by a government authority which is RBI.