Congressman KTS Tulsi Criticizes Center for Raids on Crypto Firms; “Political vendetta”

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After the GST Intelligence Directorate (DGGI) raided half a dozen cryptocurrency exchange company offices across India on January 1, the congressman and congressman for Rajya Sabha, KTS Tulsi, criticized the Center, calling it a “political vendetta”.

The Congress leader said: “The question is whether only members of the ruling party are searched or not. Is this just a spectacle for the opposition. Such decisions should be made on the basis of logic and not of a political vendetta.

“The new year has started with tragedies. 12 people are injured in katra and the government has made no statement,” added the Congress leader.

DGGI raids crypto offices

“About half a dozen offices of cryptocurrency service providers were raided and a massive goods and services tax (GST) evasion was detected by the DGGI,” sources told ANI . “DGGI Investigates Coinswitch Kuber by M / s Bitcipher Labs LLP, CoinDCX by M / s Neblio Technologies PVT. LTD., BuyUCoin by M / SI Block Technologies Pvt. LTD. And Unocoin by M / s Unocoin Technologies Pvt. LTD” Crypto wallets and exchange companies are platforms on which traders and consumers can transact with digital assets like Bitcoin, Ethereum, Ripple, and more.

Official sources further stated, “They provide intermediary facilitation services for the buying and selling of crypto coins. These services attract an 18% GST duty rate that everyone has escaped.”

“These service providers were charging a commission to facilitate the exchange of bitcoin but did not pay the tax on the GST. These transactions were intercepted by the DGGI and they were confronted with evidence proving the non-payment of the GST. “

Image: Unsplash, Facebook

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