Indian government: Crypto companies like Binance and WazirX evade taxes

ChainCatcher news, according to Cointelegraph, the Indian government has discovered that major cryptocurrency exchanges, including Binance and WazirX, owe a significant amount of Goods and Services Tax (GST). Pankaj Chaudhary, the Minister of State for Finance, stated that the government found several cryptocurrency exchanges owe 82.4 billion rupees (97 million USD) in GST.

Reports indicate that authorities have launched multiple investigations related to cryptocurrency exchanges, including WazirX, CoinDCX, and CoinSwitch Kuber. A few months ago, in August, Indian law enforcement agencies demanded that Binance pay 72.2 billion rupees (85 million USD) in back taxes.