Binance faces a demand for nearly $86 million in unpaid GST from Indian authorities, aiming to resume operations after a previous ban.
Indian law enforcement agencies demanded $86 million (722 crore Indian rupees) in unpaid taxes from crypto exchange Binance.
Binance, along with numerous other offshore crypto exchanges, was banned in India in January 2024 for noncompliance with local regulations. However, in April, Binance revealed its intent to restart its crypto trading operations in the region after paying pending taxes.
On Aug. 6, the Directorate General of Goods and Service Tax Intelligence (DGGI) — an Indian law enforcement agency — demanded 86 million from Binance under the Goods and Services Tax (GST), according to The Times of India. According to a local source cited in the repor,
