GST & Virtual Digital Assets (VDA)

Suyog Bhave – [2022] 137 taxmann.com 108 (Article)

Having introduced the concept of Virtual Digital Asset (“VDA”), with the Finance Bill, 2022, India has shed some light on the vexed issue of taxation of crypto-assets, as far as income tax is concerned. Although, the taxation scheme introduced under the Finance Bill, 2022 has been met with much hue and cry, a similar clarification is also required under the GST law to bring crypto-assets within the purview of GST. In this article, the author has discussed concept, meaning, potential classification and issues of taxability of VDAs under the GST law.

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