Key Takeaways:
- Starting July 7, Indian Bybit users will see an 18% GST applied to most platform services.
- Legacy products like crypto loans, trading bots, and Bybit Card will be discontinued for Indian users by July 17.
- These changes reflect India’s aggressive stance on regulating and taxing the crypto ecosystem.
Crypto exchange Bybit has announced it will start applying an 18% Goods and Services Tax (GST) to a wide range of its services for Indian users beginning July 7, 2025. This marks a major shift in how the exchange operates in India, aligning with the country’s tightening tax regulations for virtual digital assets (VDAs).
The changes are sweeping, impacting nearly every paid feature on the platform—from trading fees to withdrawal costs—ultimately raising the cost of crypto participation for Indian residents.
Most Bybit Services Will Now Include GST Charges
The 18% GST will not be limited to trading commissions. It will apply to:
- Spot, margin, and derivatives trading: GST will be levied on both fees and order costs.
- Fiat-related transactions: Any crypto purchases using INR via bank or card will see GST applied to the spread.
- Withdrawals and recovery services: Even retrieving wrongly deposited tokens will incur GST on the service fee.
- Earn and staking products: The platform’s service charge will include the added tax.
- Bybit Pay & OTC services: All spreads will be taxed under GST rules.
Indian users will see GST amounts automatically calculated and clearly listed in their transaction records—no manual action required.
Major Product Shutdowns for Indian Users Starting July 9
In addition to the GST rollout, Bybit will suspend multiple services for Indian residents beginning July 9, 2025, at 08:00 UTC. These include:
- Legacy Crypto Loans: Users must repay loans by July 17. Any pending balances will be auto-deducted from available assets.
- Bybit Card: New card applications will be blocked from July 9. Existing cards will stop functioning by July 17.
- All Trading Bots: Tools like Spot Grid, DCA, Futures Grid, Martingale, and Combo bots will be disabled.
These rollbacks are part of a complete regulatory adjustment—there will be no opt-outs or grace periods.
Also Read: Bybit and OKX Launch MiCA-Compliant Crypto Exchanges in EU as Europe Becomes Crypto Battleground
Aligning with India’s Regulatory Crackdown on Crypto
Bybit’s move comes as India continues to implement stricter oversight of crypto operations, building on previous mandates like the 1% TDS (Tax Deducted at Source) on crypto trades. The addition of GST further narrows the scope for low-cost crypto activity in the country.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
