Tax experts say the exchanges may have only two options — either shut down the business or move to any other jurisdiction. “Even after such a move, Indian investors may be able to continue to invest with the platforms through innovative structures. Volumes from India will surely go down but profits from business originating from India may escape tax in India as the exchanges would not have a permanent establishment in India after the move,”

Riaz Thingna
Director, Grant Thornton Advisory Private Limited

This article appeared in Economic Times on 09th April, 2018.