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‘Reverse charge' on overseas crypto investments

‘Reverse charge' on overseas crypto investments

The government is in the final stages of considering a 'reverse charge' on Indians investing in virtual digital assets on overseas crypto platforms. Sources have told Business Today TV that whenever a registered person (an Indian investor in case of virtual digital assets) is procuring a supply from an unregistered supplier, (the financial intermediary, which is a foreign crypto exchange); the receiver will pay have to pay the goods and services tax (GST) on reverse charge basis.