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 p.c Tax Collected at Source (TCS), charged on sale of overseas tour packages to Foreign Tour Operators (FTOs). This will make the packages extra enticing and reasonably priced for foreigners and extra merchantable by the Indian journey brokers already reeling underneath the COVID setback.
Tax exemptions have all the time been a requirement of the journey commerce for ease- of- doing enterprise, particularly within the present situation. 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 have been shedding lots of shoppers as a result of of this tax, moreover the federal government. was shedding overseas trade as the whole 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.