GST Applicability for Crypto P2P Platform Monthly Turnover ₹30 Lakhs

This query is : Resolved

prajwal shetty (Querist)
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06 December 2025 Hello,
I need clarity regarding GST compliance for operating a crypto P2P platform.

My monthly turnover is approximately ₹30 lakhs (annual turnover > ₹3.6 crore). I want clarification on the following points:

Is GST registration mandatory for running a crypto P2P facilitation platform, and is it treated under

“Online Information & Database Access or Retrieval Services (OIDAR),”

“Intermediary Services,” or

“E-commerce Operator (ECO)” as per Section 52?

Applicable SAC/HSN code and GST rate for commission/fees earned from crypto P2P transactions.

Whether GST liability applies only on platform fees/commission or also on the value of the crypto traded between users.

Whether the platform qualifies as an E-commerce Operator and if TCS (Tax Collected at Source) requirements apply.

Monthly/quarterly compliances required – GSTR-1, GSTR-3B, annual return, etc.

Any additional compliance specific to VDAs (Virtual Digital Assets) under GST laws.

Looking for guidance from professionals experienced in GST treatment of crypto P2P busine

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 December 2025 Yes, GST registration is mandatory for your crypto P2P platform given turnover > ₹20 lakh. GST applies only on platform fees/commission (18%), not on the traded crypto value. Your activity is generally treated as intermediary services, not OIDAR or ECO, so TCS under Section 52 does not apply. You must file GSTR-1, GSTR-3B, and annual returns, with no special GST compliance for VDAs beyond standard service tax rules.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 December 2025 Classification of Services
• OIDAR: Applies to offshore platforms providing automated services to Indian users. Since you operate domestically, OIDAR classification is not appropriate.
• Intermediary Services: Your platform facilitates transactions between buyers and sellers of crypto, charging commission/fees. This fits the definition of intermediary services under GST.
• E-commerce Operator (ECO): Section 52 applies when an operator facilitates supply of goods/services and collects consideration. Crypto P2P platforms typically do not qualify as ECO because they don’t supply crypto themselves, only facilitate peer trades. Hence, TCS obligations under Section 52 do not apply

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 December 2025 SAC Code: 998599 (Other financial services, including facilitation of transactions).
• GST Rate: 18% on platform fees/commission.
• Crypto itself is treated as “goods” under GST, but your liability is limited to service fees.
Only on platform fees/commission.
• The value of crypto traded between users is not subject to GST, as the platform is not the supplier of crypto.
GSTR-1: Monthly/quarterly outward supplies.
• GSTR-3B: Monthly summary return with tax payment.
• Annual Return (GSTR-9): Mandatory since turnover > ₹2 crore.
• Maintain reconciliation statements and audit-proof documentation for GST officers.

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