The 'GST on Crypto transactions' (transfer of VDA) is:
A. 28%
B. 5%
C. Exempt
D. 18% on services, and classification of VDA as goods/services being debated; treated as goods, 18% GST on margin? Presently GST is levied at 18% on the value of supply.
Answer: Option D
Solution (By JKSSB Mock Tests)
GST on cryptocurrency transactions is generally 18% on the service/value.
Explanation:
Tax audit is required if turnover exceeds ₹1 crore in case of business (subject to digital transaction threshold of ₹10 crore in certain cases). Standard limit ₹1 crore.
No comments yet. Be the first to start the discussion!