Bitcoin will look at GST? Exchange Want Answers

Need to give Goods and Exchange Goods and Services Tax? If so, at what rate? And on the revenue of GST exchanges or operating margin?
India's seven top exchanges, such as Bitcoin such as Zebpay, Unocoin and Coinshare, are ready to contact the Advance Authority of Ruling (AAR) for clear answers to these questions. Two people associated with this case have given this information to the Economic Times. AAR is a semi-judicial body, which can decide whether a tax is formed or not.
A person associated with this case said, "At least one Bitcoin exchange has already made a plea to Maharashtra AAR. The tax department is currently engaged in research on this issue because bitcoin is a very complex subject. ' Bitcoin, such as Zebpay, Unocoin, and Cohenshire, refused to respond to this issue.
The Income Tax Department ran a search campaign on Big Bitcoin Exchanges in December. The Indirect Tax Department is looking at how Bitcoin should be brought under the purview of GST. Indirect Tax Department of Bitcoin Exchanges, working in India, has begun investigations. This investigation is being done to ascertain that under the Goods and Services Tax (GST) Regime, the rates should be taxed at the rate of these.
How much GST will be on exchanges, it depends on whether bitcoin is considered a currency or service. If bitcoin gets recognized as a currency, then no GST will be levied on it, and if it is said to be the goods, then 18 percent tax will be charged and 12 percent tax will be given on recognition as service.