2025-07-07 05:35:21What is the Goods and Services Tax (GST) in India?
The Goods and Services Tax (GST) is a consumption-based tax levied on the supply of goods and services in India. Under Indian tax regulations, an 18% GST applies to any service or trading fees charged by crypto exchanges.
This means that, in addition to standard service fees and trading fees, Bybit users in India must also pay an additional 18% GST. However, this tax doesn't apply to fee-free services.
Who is subject to GST in India?
GST applies to any user whose verified identity, proof of address or declared address indicates a location in India. This includes cases where any part of the Identity Verification details or declared address shows India as the user's location.
My country/region of residence has changed. How can I update my Identity Verification information?
Currently, proof of address updates are not supported for Indian users. Our self-service update feature will be available soon, and you will be able to update by then.
What products and services are subject to GST?
An 18% GST will be applied on top of the trading or service fees for the following products.
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Products/Services |
Scenarios subject to GST |
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Spot Trading
Margin Trading |
The GST amount will be deducted directly from the assets received.
Example: User A sells 1 BTC in the BTC/USDT pair at a price of 100,000 USDT, with a 0.1% trading fee.
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Derivatives |
Notes: – An 18% GST will be applied on top of the trading fees and included in the order cost calculation. – The fee portion of the Initial Margin (IM) and Maintenance Margin (MM) will increase by 18%. |
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Unified Trading Account (UTA) |
Note: GST applies to conversion fees but not to interest. |
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Fiat |
GST = Trading fee/Spread × 18% Amount received = Trade amount − Trading fee/Spread − GST
Note: In accordance with Indian tax regulations, GST applies to the service component of transactions. For crypto trades, this includes the spread — the difference between the buy and sell price — which is considered a part of the service provided by the platform. As a result, GST is charged on the spread amount. We ensure that all applicable taxes are collected in full compliance with Indian laws. |
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Crypto Withdrawal |
GST = Withdrawal fee × 18% Amount received = Withdrawal amount − Withdrawal fee − GST
Note: This also applies when a user is charged a withdrawal fee to recover a deposit with a missing or incorrect Tag/Memo. |
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Convert
Convert Small Balances to MNT
OTC Trading |
The GST amount (spread × 18%) will be deducted directly from the assets received. Check the trading page for the exact amount.
Note: While no additional fees apply to these services, they do involve a spread. In accordance with Indian tax regulations, GST is charged on the service component of a transaction, including the spread in crypto trades. As a result, GST will apply to these services. Rest assured, all applicable taxes are collected in full compliance with Indian law. |
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New Crypto Loan |
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Margin Staked SOL |
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Earn |
GST applies to native staking on On-Chain Earn and will be deducted from your interest earnings.
Service fee = Interest × Service fee rate GST = Service fee × 18% Amount received = Total interest − Service fee − GST
Note: Interest earned from APR Boost is excluded from this calculation. GST may be charged when your principal is redeemed or when your interest is paid out, depending on the asset. |
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Bybit Pay |
GST applies to all transfers involving users and merchants and is calculated based on the spread. |
Disclaimer:
Please note that this is only a general overview of scenarios where GST may be charged. As Bybit's product offerings are subject to ongoing updates, Bybit reserves the right to apply GST to applicable scenarios that may not be explicitly listed here.
Are there any other products or services impacted?
In line with Indian regulations and Bybit's business strategy, we've made some adjustments. The following products and services will be unavailable to users in India: Bybit Card, Trading Bot, Legacy Crypto Loan, TradFi, and P2P Altcoin Trading (BTC, ETH, USDT and USDC not affected). We appreciate your understanding and continued support.
Where can I download my GST tax invoice?
The tax invoice download feature is currently in development and will be supported in the near future.
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