The government has still not taken any stance, they are warning people that they won't be responsible for anything related to cryptocurrency trading. You'll need to pay tax for your gains, recently they raided popular exchanges like zebpay and unocoin, so you aren't getting off on the tax.Other than that you should be fine trading cryptos.

Is it a good choice?
That depends on you, this is probably the best time to invest in BTC because of the dip, you may not get this chance again. But do your research and invest carefully.