Tag Travel Agents

TCS Rates for LRS and Overseas Tour Packages Postponed Until Oct 1

TCS On Foreign Travel
The Indian government has postponed the implementation of the increased TCS rates for remittances under the Liberalized Remittance Scheme (LRS) and for the purchase of overseas tour packages. The new rates were originally scheduled to take effect on July 1, 2023, but the government has decided to give more time for banks and card networks to put in place the necessary IT infrastructure.