Tax collection at source on luxury goods expanded to cover notified high-value goods, enhancing tracking and widening the tax base. Amendment expands the Tax Collection at Source provision that applies to high-value motor vehicle sales to include other notified high-value luxury goods; ... Summary
Tax collection at source on luxury goods expanded to cover notified high-value goods, enhancing tracking and widening the tax base.
Amendment expands the Tax Collection at Source provision that applies to high-value motor vehicle sales to include other notified high-value luxury goods; sellers must collect TCS from buyers on notified goods exceeding the prescribed value threshold at the rate specified by law, to enhance tracking of luxury expenditure and to widen and deepen the tax base, effective from 1 January 2025.
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TaxTMI 
TaxTMI 
