India considering 18% TAX RETROACTIVELY on Cryptocurrencies!
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As reported today by news agency Bloomberg, the Indian Government is considering taxing Bitcoin and other cryptocurrencies with an 18% GST (Goods and Services Tax) and moreover it will be doing so retroactively since July 2017!
The Indian Central Board of Indirect Taxes is considering this proposal even though there is no clarity over the legal status that cryptocurrencies have in India right now. This would, of course, provide an immense new revenue stream to the Indian government.