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of <h1>Luxury Goods Tax Collection Expanded: TCS Now Applies to High-Value Purchases Across Multiple Product Categories</h1> A recent tax notification expands tax collection at source (TCS) to luxury goods valued over ten lakh rupees. The updated regulation covers items like wrist watches, art pieces, collectibles, vehicles, accessories, sportswear, and home entertainment systems. TCS will apply to individual sales exceeding the specified value threshold, effective from 22.04.2025, as per the government's official gazette notification.
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