Starting July 7, 2025, Bybit will apply an 18% Goods and Services Tax (GST) to all transactions for Indian users. This decision impacts over 310,000 traders and could influence trading volumes in India's crypto market.
Introduction of 18% GST
Bybit has confirmed the introduction of an 18% GST for all platform transactions, including spot and margin trading, derivatives, and staking. This decision affects all users in India.
Impact on Traders
Traders will face increased costs due to the new tax, which could lead to reduced trading volumes. The rise in expenses will affect BTC, ETH, and altcoins. The platform will also notify users of the new fees in their transaction history.
Market Analysis and Reactions
Industry experts suggest that increased trading costs may lower user interest in Bybit, potentially redirecting them to less regulated platforms. This situation arises amidst India's stringent tax policies, including a 30% profit tax and a 1% Tax Deducted at Source (TDS).
The introduction of 18% GST by Bybit underscores the changing tax landscape for cryptocurrencies in India, and while the consequences remain uncertain, they may lead to significant shifts in trader behavior in the country.
