India Panel Said to Weigh Sales Tax on Cryptocurrency Next Week

An Indian ministerial panel will meet next week to discuss a goods and services tax on cryptocurrency transactions, people with knowledge on the matter said.

The panel, comprising federal and states’ finance ministers, is seeking to broaden the tax net to track dealings in virtual digital assets in a more effective manner, the people said, declining to be identified citing rules on speaking with media. The panel is meeting for two days starting June 28 in the northern Indian state of Chandigarh.

The panel is unlikely to finalize a rate in the upcoming meeting but discussions may be held on ...