Companies are struggling to deal with increasing GST notices from different state departments as taxation is a centralised function in most companies and they, especially in services companies, find it difficult to segregate businesses per state. ET has reviewed a bunch of GST notices sent to service companies by states to produce a large number of documents to satisfy the questions of state revenue officers. ✔️ Are there any exemptions or special provisions for virtual digital assets under the GST? ✔️ How does India’s approach to taxing virtual digital assets compare to other countries? ✔️ What future developments can we expect in the taxation of virtual digital assets in India?

Source: Economic Times July 31, 2023 04:45 UTC