Congress MP KTS Tulsi slams Centre over raids on Crypto firms; 'Political vendetta'

After the Directorate General of GST Intelligence (DGGI), on January 1, conducted raids on half a dozen offices of Cryptocurrency exchange firms across India, Congress leader and Rajya Sabha MP KTS Tulsi slammed the Centre, calling it 'political vendetta.'

The Congress leader said, "The question is whether only ruling party members are searched or not. Is it just a show for the opposition. Such decisions should be taken on the basis of logic and not political vendetta."

"The new year started with tragedies. 12 people are injured in katra and the government has not issued any statement," the Congress leader added. 

DGGI raids crypto offices

''Around half dozen offices of Cryptocurrency Service providers have been searched and massive Goods and Service Tax (GST) evasion has been detected by DGGI," sources told ANI. ''The DGGI is investigating Coinswitch Kuber by M/s Bitcipher Labs LLP, CoinDCX by M/s Neblio Technologies PVT. LTD., BuyUCoin by M/S I Block Technologies Pvt. LTD. and Unocoin by M/s Unocoin Technologies Pvt. LTD," sources added. Crypto wallet and exchange firms are platforms where merchants and consumers can transact with digital assets like bitcoin, ethereum, ripple, etc.

Official sources further said, "They are providing facilitation intermediary services for buying and selling of crypto coins. These services attract GST rate of duty of 18% which all of them have been evading.''

"These service providers were charging a commission for their facilitation to indulge in exchange of bitcoins but were not paying GST tax. These transactions were intercepted by DGGI and they were confronted with evidence that proved non-payment of GST."

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