What is GST Evasion | GST Evasion Penalties – Taxkundali
What is GST Evasion – Goods and Services Tax (GST) was implemented in the Indian economy from 1st July 2017 to displace the various indirect taxes and surcharges which were levied before 1st July 2017 with one customized tax structure and also to reduce the cascading effects of taxation through the input tax credit mechanism and levy the tax only on the value-added. Main purposes of GST’s implementation, one more general aim of combating evasion in tax structure was also included. Tax evasion has become a serious problem for the government of just about every country which is hard to regulate.
Nirmala Sitharaman Is Going To Approve Cryptocurrency Bill Very Soon
Nirmala Sitharaman is going to approve the Cryptocurrency Bill very soon. Cryptocurrency is growing very fast in India. Now many people in India have started trading in cryptocurrency rapidly. The speed with which cryptocurrency trading is growing is a matter of concern for the government. The Union Cabinet is supposed to take up a bill to control cryptocurrency and its expanding market in India, Finance Minister Nirmala Sitharaman said on August 16, 2021. Finance Minister Nirmala Sitharaman said that the proposed legislation on cryptocurrencies has been postponed before the Cabinet and is awaiting its approval.
Taxes on Bitcoin in India | Is Bitcoin Legal in India
Taxes on Bitcoin in India: These back-to-back lockdowns made people realize the value of getting a passive income source. In search of a good passive earnings source, we Indians tried some ways to make good money. Some started their own business from home and a few started investing in IPOs and real estate. However, plenty of people prefer to invest in cryptocurrencies. Bitcoin is a cryptocurrency created by Satoshi Nakamoto. you’ll buy or sell bitcoins on a bitcoin exchange. Any bank or government doesn’t regulate the currency. Blockchain is the core technology behind bitcoin and other cryptocurrencies. It’s a public ledger of data that records all bitcoin trades.