GST Council may defer decision on taxing crypto assets in June 28-29 meet

Fitment panel proposes deeper study by Haryana and Karnataka and asks to submit report to the panel for further deliberations

The Goods and Services Tax (GST) Council is unlikely to take a call on taxing virtual digital assets (VDA) or crypto assets in its upcoming meeting and may ask two states, Haryana and Karnataka, to study the nature and taxability of various activities in the crypto ecosystem.

The Council is set to meet on June 28 and June 29 in Chandigarh.

The GST fitment committee, comprised of central and state officials who are reviewing the issue, has deferred the matter as it felt it requires deeper study, according to people privy to the development.

The move follows the demand from