Binance tops list of 17 crypto entities probed for tax evasion in India
Binance accounted for the highest Goods and Service Tax evasion among registered cryptocurrency exchanges in India, according to the Indian Finance Ministry.
Responding to a parliamentary question regarding tax compliance by cryptocurrency exchanges, Minister of State for Finance Pankaj Chaudhary revealed that the total GST evasion by these entities amounted to ₹824.14 crore ($96 million), with a Binance group company contributing the majority share.
According to the ministry, 47 Virtual Digital Asset Service Providers have registered as reporting entities under the Financial Intelligence Unit, out of which 17 entities were investigated for GST evasion.
Nest Services Limited, a Binance Group company based in…
