Indian cryptocurrency exchange WazirX reportedly paid more than $ 6.6 million (49.2 crore rupees) following the non-payment of Goods and Services Tax (GST) on trade commissions. The total recovery includes the outstanding tax of $ 5.43 million (Rs 40.5 million), interest and a penalty for non-payment.
- SEBI Chief Warns Indian Mutual Funds About Investing In Cryptocurrency Offerings
Officials from the GST and Central Tax Commission (Mumbai-area CGST) recovered funds from the cryptocurrency exchange after detecting a GST evasion of $ 5.43 million in fees. A typical GST fraud involves creating false invoices without actually moving the merchandise between the seller and the buyer.
Officers of CGST Mumbai East comm’te have detected GST Evasion of Rs 40.5 Cr. on commission of Wazir X Crypto Currency & recovered Rs 49.2 Cr. in cash as GST, interest & Penalty today on 30.12.2021 from Zanmai Labs Pvt. Ltd. @nsitharamanoffc @mppchaudhary @cbic_india @PIBMumbai
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.