FDI and Cryptocurrencies in India The FDI is regulated under FEMA Act. The FDI Policy and TISPRO, made under FEMA, regulate FDI in Indian entities. The Exchange would be regulated either as Non-banking finance and asset management companies or E-commerce platforms...
Applicability of FEMA on Cryptocurrencies in India The risk relating to FEMA has been highlighted by the RBI ample number of times. In P2P transfers, while the exchange provides a portal to match the orders of a seller and buyer, the consideration would flow directly...
Applicability of Commodity Laws on Crypto Exchanges in India If the Cryptocurrencies are classified as ‘commodities,’ the exchanges which facilitate the trading of cryptocurrencies might be governed as the ‘commodity’ exchanges, which can have implications under...
Indirect Tax Implications on Crypto Exchanges in India The applicable laws with respect to GST are the Central Goods and Services Tax Act, 2017, the Integrated Goods and Services Tax Act, 2017 and the respective State Goods and Services Tax Acts, with each having...
Direct Tax Implications on Crypto Exchanges in India The income of the corporations and individuals is taxed under the Income Tax Act, 1961 (the ‘ITA’). The ITA has the provisions to tax the Indian residents on their worldwide income and non- residents on their income...
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