Goods and Services Tax

Tax on digital assets could go up, government mulling GST on crypto mining, supply (Feb 10, 2022)

The government is examining the applicability of Goods and Services Tax (GST) on various cryptocurrency transactions including mining of these digital assets. The issue is being examined internally at CBIC and a proposal will be taken to the GST Council, CBIC chairman Vivek Johri said.


Reserve Bank of India 

RBI releases master directions for credit derivative transactions (Feb 10, 2022)

The Reserve Bank of India on February 10, 2022 came out with its master directions for credit derivative transactions, a year after it released the draft guidelines. These directions will apply to credit derivatives transactions undertaken in Over-the-Counter (OTC) markets and on recognised stock exchanges in India, and will be effective from May 9, 2022.


RBI Governor: Cryptos have no underlying asset… not even a tulip (Feb 11, 2022)

Reiterating the central bank’s serious concerns over cryptocurrencies, Reserve Bank of India Governor Shaktikanta Das said these are a big threat to the country’s financial and macroeconomic stability and also warned investors that cryptocurrencies do not have any underlying asset.


Market Summary

Stock Market Indices ( as on 11.02.2022 )

 BSE Sensex                      58152.92 (-773.11) 
Nifty 50                              17374.75 (-231.10) 

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