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The first Indian celebrity to endorse NFTs (non-fungible tokens) in India and roll out their NFT collection is the great Indian Superstar Amitabh Bachchan. Reportedly, Amitabh Bachchan has paid the Indian Tax Agency over 1 crore on the sale of his NFTs.
Amitabh Bachchan’s NFT Drop
Amitabh Bachchan had entered into an agreement with the talent management company Rhiti Sports and NFT exchange Guardian through the NFT marketplace, Beyondlife.club. Amitabh Bachchan’s NFT collectible portrayed his and his father’s iconic work over the years. The NFT collection includes his father, Harivansh Rai Bachchan’s famous collection of poems called Madhushala. In addition, it also consists of digitized vintage posters of Amitabh Bachchan’s enigmatic roles in his blockbuster movies and posters as well.
Bachchan’s NFT Collection Auctioned
A total of Rs. 7.15 crores was collected from the sale of his NFT collectible which also garnered 18 percent IGST. D. Purshottam of the Hyderabad Division of the Directorate General of Goods and Services Tax Intelligence has confirmed that the investigations for tax and collection are continuing.