Query on Recent TCS Applicability Amendment – Sale of High-Value Shoes

[Ramanathan Seshan]

Dear Experts,

Could someone please clarify the recent amendment regarding TCS applicability on the sale of shoes? Specifically, is TCS to be charged only if the value of a single pair of shoes exceeds ₹10 lakhs, or is it based on the total value per invoice?

Regards,

S Ram

AI Summary

TCS on High-Value Goods applies to individual luxury items exceeding a specified threshold, not invoice totals.
TCS under the notification applies to specified luxury/high value goods when the value of an individual item exceeds the prescribed threshold; it is triggered by the value of each specified item at the time of sale rather than by the cumulative invoice value. Sellers must collect TCS at the prescribed rate, remit it to the government, and report it in the buyer's tax records.