India plans to introduce reverse charge tax on foreign crypto platforms
According to experts, the reverse charge is likely to be set at 18%
By Shashank Bhardwaj
The government of India is reportedly set to introduce a "reverse charge" on virtual digital asset investments on overseas platforms as part of the latest round of crypto regulations to be implemented in the country. A reverse charge is an indirect tax obligation that falls on the recipient of goods or services rather than the supplier.
As a result, goods and services taxation (GST) will fall on the investor, not the service provider, when an Indian investor acquires services from a domestically unregistered crypto exchange.
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