Section 206C(1F) TCS Applicable on Sale of Single Item of Notified Goods Exceeding Rs. 10 Lakh; CBDT Clarifies
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- By Chetan Kulasri
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- Last Updated on 26 April, 2025
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FAQs, dated 24-04-2025
Finance (No. 2) Act 2024, w.e.f. 1-1-2025 has expanded the scope of section 206C(1F) to levy TCS on any other goods of value exceeding Rs. 10 lakh. Such other goods shall be notified by the Government and will be in the nature of luxury goods. The Central Board of Direct Taxes (CBDT), vide Notification No. 36/2025 dated 22.04.2025, notified 10 goods for the purpose of TCS under section 206C(1F).
The Board has clarified that TCS will be levied on the sale of a single item of the notified goods with a value exceeding ten lakh rupees. Further, the provisions will become effective from the date of publication of the notification, i.e. 22.04.2025.
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