Double tax for NFTs: Deals may attract GST, equalisation levy

After cryptocurrencies, the non-fungible token or  NFT  has attracted the taxman’s attention as any purchase of the blockchain digital file will attract equalisation levy and  goods  and  services  tax ( GST ).  This would mean that any NFT bought could become dearer by a few percentage points. The tax department is set to slap a 2% equalisation levy on these tra…