Binance Faces $86 Million Tax Dispute in India

The cryptocurrency exchange is cooperating with Indian authorities over allegations of unpaid GST on transaction fees.

Indian tax authorities issued a notice to Binance for $86 million in unpaid Goods and Services Tax (GST).
The dispute involves fees collected from Indian customers between June 2017 and March 2024.
Binance has challenged the notice but is cooperating with the investigation.
The company has faced similar tax issues in other countries, including Nigeria.
This is the first time an international crypto exchange has received a GST notice in India.