Govt says crypto gains taxable as income, GST applicable on services by crypto exchanges

Since income from whatever source derived is included in the Income Tax Act, 1961, and supply of any service, if not specifically exempted, is taxable under Goods and Services Tax (GST), the gains from cryptocurrency (crypto) trading and services by crypto exchanges are liable to be taxable, the government said. The information was shared by the Minister of State for Finance Ministry Anurag Singh…