Questions tagged [service or good]

DongdaemunTrend Thu Jul 11 2024 | 6 answers 1764

As a professional practitioner in the field of cryptocurrency and finance, I often encounter questions pertaining to the taxability of cryptocurrencies. One such question that often arises is: "Is cryptocurrency a service or a good under GST (Goods and Services Tax)?" This question is particularly pertinent in jurisdictions where GST is levied, as it determines how cryptocurrencies should be taxed. Clarifying this distinction is crucial for both cryptocurrency businesses and investors, as it impacts their tax obligations and financial planning. Let's delve into this question to gain a deeper understanding of its implications.