Home Tradeline Associations OTOAI expresses hope for the deferral of TCS

OTOAI expresses hope for the deferral of TCS

Riaz Munshi, President, OTAOI
Riaz Munshi, President, OTAOI

OTOAI, representing the interests of India’s outbound tour operators, has expressed hope for a potential deferment of the TCS. In an official statement, Riaz Munshi, President, OTOAI stated, “Given the disruptions and confusion these changes have caused, we are hopeful of a deferment of the TCS. Such a move would significantly help in easing the financial burden on travellers.”

OTOAI continues to advocate for clarity and transparency in these matters and is keen to work with relevant authorities to ensure the best outcomes for India’s outbound tourism industry. The Association, for the last four months, has reached out multiple times to the Finance Ministry and concerned officials regarding bringing down the TCS and the fact that the same might not be applicable from the said date of July 1, 2023, is an encouraging move and rewarding to the association’s efforts in the past.

OTOAI has also engaged JMP Advisors, a leading professional services firm that offers advisory, tax, and regulatory services to put up the association case with ministries. They represent OTOAI to the concerned ministries and CBDT and are active on the TCS issue. They have met with senior CBDT officials to explain their concerns in detail.

OTOAI has not lost hope and is continuing in its efforts and endeavours to highlight their pain and make the government re-look and re-examine the TCS issue from the industry perspective.