TechFlow news, according to CoinDesk, cryptocurrency exchange Binance has recently received a tax notice of approximately $86 million from India's Directorate General of Goods and Services Tax Intelligence (DGGI), which Binance has since challenged.
Insiders revealed that the DGGI's Ahmedabad branch issued this "show-cause notice" to Binance last week, citing fees collected by Binance from Indian users' trading activities. The alleged tax evasion period spans from July 2017 to March 2024.
The DGGI is an agency under India's Ministry of Finance responsible for "collecting, compiling, and disseminating intelligence related to evasion of indirect taxes."
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