Costlier Watch, Home Theatre, Sunglasses, etc now liable for TCS
CBDT notifies the following goods of the value exceeding 10 lakh rupees for collection of TCS. TCS Rate: 1%, Effective Date: 22/04/2025 Any seller receiving over ₹10 lakh for the following goods must collect 1% TCS from the buyer at the time of payment. List of goods: 1. any wrist watch 2. any art piece such as antiques, painting, sculpture 3. any collectibles such as coin, stamp 4. any yacht, rowing boat, canoe, helicopter 5. any pair of sunglasses 6. any bag such as handbag, purse 7. any pair of shoes 8. any sportswear and equipment such as golf kit, ski-wear 9. any home theatre system 10. any horse for horse racing in race clubs and horse for polo
The copy of the Notification is as under:
