Binance Entity Faces $85 Million Tax Evasion Probe in India

Quick Summary:

The Indian Finance Ministry says some cryptocurrency exchanges in the country are dodging taxes.

Nest Services Ltd, reportedly linked to the Binance Group, is the biggest offender, sources say.

The company did not pay ₹722.43 crore (around $85 million) in Goods and Services Tax (GST).

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Article Details

Author / Journalist: Izabela Anna

Category: Crypto

Markets: IndiaSeychelles

Topics: Binance News WazirX Market News News Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-05 @ 07:30:00 (2 weeks ago)

News Timezone: GMT +0:00

News Source URL: coinedition.com

Language: English

Article Length: 127 words

Reading Time: 1 minutes read

Sentences: 49 lines

Sentence Length: 3 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinedition

News ID: 24134405

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About Coinedition

Main Topics: Crypto

Official Website: coinedition.com

Update Frequency: 14 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 9 hours ago

Coverage Areas: India

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #124

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