TCS on Sale of High-Value Goods – Effective from 22nd April 2025
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As per the new CBDT notification, if a seller receives more than ₹10 lakhs from a buyer for the sale of certain goods, they must collect 1% TCS (Tax Collected at Source) from the buyer.
Applicable Goods: The specific goods notified (list in the notification)
Threshold: Payment exceeds ₹10,00,000 from a buyer in a financial year
TCS Rate: 1% of the sale amount
Effective Date: 22nd April 2025 |
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