bitcoin trading income

Taxation of Bitcoin would depend on whether your client is a Miner, Investor or a Trader. In case if he is a Miner or Trader who treats it as stock in trade, it would be treated as Business or Profession Income. Further in case he is an Investor it would taxed as capital gain,but for it to be taxed as capital gain it is not included in the Capital Asset Definition U/S 2(14) of the Income Tax Act 1961. 

Coming to the GST part of it, the Any sale, trade, barter or  Exchange  of Goods/Service's carried out for a consideration in course or furthereance of business would constitute supply. Here again the definitions of Goods/ services have to be interpreted where even services in exchange of currencies are chargeable. But furthermore Bitcoins/Crypto Currency is not a legal tender/Currency as per RBI. To be on safer side it is better to pay both Income Tax and GST on the same.

Thanks

Sachin C  

How do you calculate turnover on Crypto trading, for availing 44AD?

Is it sum of profit and loss? Or buy value + sell value ? Or something else.