The government had initiated action against 11 cryptocurrency exchanges, including CoinDCX and CoinSwitch Kuber, in the country for tax evasions of Rs 81.54 crore, Minister of State for Finance Pankaj Chaudhary said on Monday.
.In a written reply to a query in the Lok Sabha, Chaudhary said that recovery from the cryptocurrency exchanges, including interest and penalty charges, stands at Rs 95.86 crore
The government also said it did not collect any data on cryptocurrency exchanges.
Pratik Gauri, founder of 5ireChain, a blockchain ecosystem, said the government is “trying to find a foothold in understanding the various challenges it will face in implementation once regulations are in place”.
Chaudhary said that few cases of GST evasion by crypto exchanges had been detected by central GST formations.
Read all the Latest News , Breaking News and IPL 2022 Live Updates here.