New Delhi, Dec 2 (PTI) GST authorities have booked a Rs 722.43 crore tax evasion case against crypto exchange and Binance Group Company, Nest Services Ltd, Parliament was informed on Monday.

In total, cases have been booked against 17 cryptocurrency exchanges for GST evasion of Rs 824.14 crore. Recovery of Rs 122.29 crore in interest, penalty and taxes has been made by GST authorities, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha.

Also Read | Wipro Bonus Share Record Date: Wipro Announces Bonus Shares in 1:1 Ratio, Fixes December 3 as Record Date – All Details Here.

Central GST formations have detected Rs 40.51 crore GST evasion by Zanmai Labs Pvt (WAZIRX), Rs 16.84 crore by CoinDCX and Rs 14.13 crore by CoinSwitch Kuber.

As many as four investors in virtual digital assets have been investigated by the Central GST authorities and Rs 1.76 crore evasion has been detected. Rs 2.40 crore has been recovered in taxes, penalty and interest.

Also Read | Latest Government Jobs Notifications: Apply for 15 Posts of Inspector (Hindi Translator) at recruitment.itbpolice.nic.in; Know Recruitment Process, Salary and Other Details.

Chaudhary said total 47 Virtual Digital Asset Service Providers (VDA SPs) have been registered as Reporting Entities with Financial Intelligence Unit-India under the Prevention of Moneylaundering Act, 2002 till date.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)