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CRYPTOCURRENCY-SCOPE IN INDIA
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Author(s):
DR. VIJETA BANWARI
Vol - 8, Issue- 12 ,
Page(s) : 82 - 92
(2017 )
DOI : https://doi.org/10.32804/IRJMSH
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Abstract
This paper talks about strengths, weaknesses, Opportunities and Threats of Cryptocurrency and its scope in India. Cryptocurrencies are considered to be profitable investment in long run. Because of its various advantages: Easy availability, No involvement of any mediator, Fast payments, Low transaction fees and Information privacy. However, Cryptocurrencies also suffer from some weaknesses. Security of data and cryptocurrency has been major concern. Interestingly, though there is lack of clarity about legal status of cryptocurrency in India, the country may levy Goods and Services Tax on cryptocurrency trading. Central Board of Indirect Taxes and Customs has proposed to levy 18% GST on dealing of cryptocurrency.
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