CBIC studying crypto ecosystem to bring more activities under GST net

The goods and services tax (GST) policy wing of the Central Board of Indirect Taxes and Customs (CBIC) is conducting an in-depth analysis to widen the coverage of tax on the crypto ecosystem. It is looking to bring in more activities such as mining platforms for cryptocurrency assets and the use of virtual digital assets (VDAs) as a medium of exchange in purchases under the tax net. The GST Counci…