I believe you are talking about GST here. GST registration is mandatory for turnover of above 20 lakhs of the products and services identified by the GST bill 2017. This bill however doesn't identify crypto. Now let's say you want to deal p2p and there are people who will want to deal with you so there are few options here:
You meet at a commonplace like a coffee shop or car parking or malls. Most exchanges closed down their offices when the Rbi restricted their banking support. It doesn't mean that the entire place is locked down, only the operation part was hampered. The different govt. Dept. always have a clash between themselves. I agree that not everywhere logic works but where logic fails money talks. May I know what led you to talk to the tax officials? Let's see what SC judgement would be.
It seems he is talking about income tax, every Individual who had recorded transaction in their bank for whatever reasons should pay their income taxes if it exceeds the limits.But when people using p2p hard cash method can stay away from paying taxes but when you are dealing in person there is chance for scam if it involves high amount. You meet at a commonplace like a coffee shop or car parking or malls. Most exchanges closed down their offices when the Rbi restricted their banking support. It doesn't mean that the entire place is locked down, only the operation part was hampered. The different govt. Dept. always have a clash between themselves. I agree that not everywhere logic works but where logic fails money talks. May I know what led you to talk to the tax officials? Let's see what SC judgement would be.
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