According to ChainCatcher, Binance has questioned the nearly $8.6 billion tax penalty notice issued by the Indian tax department, according to CoinDesk.

A person directly involved in the matter revealed that the Indian Directorate General of Indirect Tax Intelligence (DGGI) sent Binance this notice requesting an explanation last week. The notice involves fees collected by Binance from Indian customers from July 2017 to March 2024.

It is reported that DGGI is an agency responsible for collecting, collating and disseminating indirect tax evasion intelligence, which is affiliated with the Indian Ministry of Finance. At present, Binance has not responded to this matter.