VIRTUAL CURRENCY AND INDIA :
Sometimes it is declared as " not legal tender" sometimes 18-24% GST and sometimes 30% capital gain tax and suddenly a declaration by the country's Central Bank stated a time period for closing of virtual currency( crypto currency) transaction with its Fiat currency results huge panic sell order.
Yes I am being an Indian describing here the future of cryptocurrencies in India. There is no doubt that I love my country , but sometimes confused with the term republic India, cause some decisions taken by top officials make me think that the entire system should be reformed. A snapshot collected from a source will be given for reference. (For your kind information I would like to clarify that this is a screenshot of a reputed news from a reputed channel.)
So now the confusion arises here,
According to an early report all investors have to pay a certain amount of GST on cryptocurrency trade. This was according to another news report two months earlier. Here is another screenshot taken from another reputed media source.
Again another report has to come before third week of this month. If bank is going to stop their INR transactions w.r.t cryptocurrency trade, on what basis investors will pay GST ??
A number of Indian exchanges are ready to implement new payment methods on behalf of RBI ban. The time will tell, as all our bank transactions are being monitored by the banks in that regard what will be your answer in your statements?
The Bank authorities or the expert committee are worried of black money. Are they serious?? investors like me and other millions of investors are trading cryptocurrencies with INR after submitting all KYC documents. Then who will bring black money?
please hereby I am inviting all crypto investors from India to use your social media platforms to share your thoughts and opinions.
regards
pankajpallab(pallabmax)