Also I don't understand why GST department had initiated this raid! Where cryptocurrency is not defined under any law, how can a transaction in crypto can attract GST! That's very unfortunate to be honest!
It will all come under GST when the coins gets converted to real money. As long as the coins are BTC, ETH or whatever, they are fine and pretty much out of tax issues. The exchanges are taking money and converting it to the coins - which is easily taxable.