Indian authorities conducted searches of about a half dozen cryptocurrency exchanges searching for proceeds from alleged tax evasion. By Amitoj
saying “the case is a part of the special anti-tax evasion drive, which relies on intensive data mining and data analytics, initiated by the CGST Mumbai Zone.”
WazirX blamed a lack of clarity in regulation for the matter, saying it’s “been diligently paying tens of crores worth of GST every month. There was an ambiguity in the interpretation of one of the components which led to a different calculation of GST paid. However, we voluntarily paid additional GST in order to be cooperative and compliant. There was and is no intention to evade tax.
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