Re: India may levy Goods and Services Tax on cryptocurrency trading
So the government announce GST on cryptocurrency and thus people could do trading etc and this will not affect anything.
You are wrong. Here's why it matters:
Zebpay charges a 0.2% maker's fee. That is, for every crypto transaction of Rs.1000/- it charges Rs.2/-. I have come across complaints on this forum that this fee charged by Zebpay is excessive.
Now, here comes 18% GST. This is a tax on your ENTIRE transaction of Rs.1000/-, and not just on that Rs.2/- Zebpay fee. So, you now pay Rs.180/- GST.
Guess what all those complainers about Zebpay's "excessive" fee are going to do when they see this GST drain?
