The publish IATO hails govt decision to scrap TCS on sale of overseas tour packages to FTOs appeared first on TD (Travel Daily Media) Travel Daily.
Indian Association of Tour Operators (IATO) have welcomed the federal government’s decision to withdraw 5 % Tax Collected at Source (TCS), charged on sale of overseas tour packages to Foreign Tour Operators (FTOs). This will make the packages extra engaging and reasonably priced for foreigners and extra merchantable by the Indian journey brokers already reeling beneath the COVID setback.
Tax exemptions have at all times been a requirement of the journey commerce for ease- of- doing enterprise, particularly within the present state of affairs. Rajiv Mehra, President IATO, “The impact of this notification is that both foreign individuals and FTOs (buyers) buying overseas tour packages from the Indian Tour Operators will be exempt from TCS provisions. It is not necessary that the foreign tourist should visit India for an onward journey to the neighbouring country.” “Secondly, the FTO / Corporate entity established in foreign country and not maintaining any permanent establishment / branch in India would also be exempted from TCS provisions,”
He added that Indian tour operators had been dropping so much of shoppers as a result of of this tax, moreover the federal government. was dropping international trade as the complete cash was going to the opposite nations.
The publish IATO hails govt decision to scrap TCS on sale of overseas tour packages to FTOs appeared first on Travel Daily.