Existing Indian law could impose 2% levy on crypto bought from offshore exchanges

According to local sources, the Indian Government’s 2% “equalisation levy” could be extended to crypto-assets purchased from off-shore exchanges.

According to a June 22 report from Economic Times, analysts are inferring that existing law could require a 2% levy to be added onto the settlement price of crypto bought from overseas-based crypto exchanges operating in India’s market.

The equalisation levy was first introduced by the government in 2016, imposing a 6% tariff on payments for e-commerce supply and services to non-resident companies without a permanent establishment in India.

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