Quick Summary
Central tax officials have uncovered goods and services tax (GST) evasion amounting to ₹824.14 crore across 17 cryptocurrency exchanges, Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha on December 2. Recoveries and Evasion Details Out of the total evasion, the government has recovered ₹122.29 crore, including GST dues, interest, and penalties. However, a significant portion remains unrecovered, with the largest evasion attributed to Nest Services Ltd., a Binance group c
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FAQ :
Central tax officials have uncovered GST evasion amounting to ₹824.14 crore from 17 cryptocurrency exchanges.
The government has recovered ₹122.29 crore, which includes GST dues, interest, and penalties.
Nest Services Ltd., a Binance group company, is associated with the largest evasion case, amounting to ₹722.43 crore.
Yes, other major cases include Zanmai Labs Pvt. Ltd. (WazirX) with ₹40.51 crore, CoinDCX with ₹16.84 crore, and CoinSwitch Kuber with ₹14.13 crore.
Yes, GST officials investigated four investors in virtual digital assets, detecting ₹1.76 crore in evasion, with ₹2.4 crore recovered.
A total of 47 Virtual Digital Asset Service Providers (VDA SPs) have registered as Reporting Entities with the Financial Intelligence Unit-India under the Prevention of Money Laundering Act, 2002.
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