Tourism Hit: 20% TCS on Foreign Remittances, Impacts Overseas Tours

Описание: Tourism Industry braces for impact as new changes were introduced earlier this month. 20% TCS on foreign remittances came into effect from October 1.

Earlier, overseas tour packages attracted 5 % TCS on all transactions. However, the new changes introduce a Rs 7 Lakh threshold over which 20 % TCS will be charged while the current 5 % will continue to be levied below the set threshold.

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