Tax Collected at Source
- On 22nd April 2025, the Central Board of Direct Taxes (CBDT) issued a notification specifying the list of luxury goods on which tax collected at source (TCS) will be levied.
- TCS is a tax payable by a seller which he collects from the buyer at the time of sale of goods.
- Section 206 of the Income Tax Act mentions the list of goods on which the seller should collect tax from buyers.
- Section 52 of the CGST Act, 2017 provides for Tax Collection at Source, by e-Commerce Operator in respect of the taxable supplies
- Seller is categorized as any ....
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