Indian taxpayer recovers $ 6.62 million for WazirX tax evasion commission

WazirX India’s cryptocurrency exchange has paid more than $ 6.6 million (Rs 49.2 million) in non-payment of Goods and Services Tax (GST) on trade commissions. The full recovery includes $ 5.43 million tax (40.5 million rupees), interest and a penalty for non-payment.

Government officials from the Central GST and Central Excise Commission (CGST Mumbai Zone) have recovered cryptocurrency exchange funds from commissions after a $ 5.43 million GST leak was detected. A typical GST scam involves creating fake invoices between the seller and the buyer without actually moving the goods.