Taxes on Fees

What taxes are applied on adventures?

For Indian Customers:

For editions in India, you have to pay 5% standard GST on top of the edition fees.
For international adventures, the tax component is 5% GST & 5% TCS.

For non-Indian Customers:

No additional taxes are applied to your fees.

What is TCS?

TCS stands for tax collected at source.

When you make a payment for our projects, and the destination of the project is outside India, in that case, you have to pay 5% TCS or tax-collected at the source. This mandate is set by the central government of India and businesses like ours that take payments for services being offered outside India, have to collect tax on behalf of the government.

It simply means we are collecting advance tax from you for the government. The TCS that you pay is then deposited by our company into the government’s account under your name. This means next time you are filing your Income Tax Returns, you can directly minus the TCS you’ve already paid from the income tax amount. Because you’ve already paid this tax to the government via us.

Am I eligible for any tax deductions?

• TCS paid can be adjusted against the tax payable when individuals who would have paid TCS file income tax returns (ITR) in India.
• Deductees can always check the details in their Form 26AS. The credit of TCS collected will populate in Form 26AS.
  
  

Is TCS applicable at the account level or PAN level?

TCS is applicable at the PAN level. The FEMA LRS limit maintenance, TCS charging and TCS reporting is consolidated at the customer level i.e. at the PAN level.

In case of return of transactions post debit from the account, will the TCS get refunded back?

TCS will not be reversed once debited. Cardholders can approach for a refund from the tax authority through ITR or consult with a tax advisor for refund/adjustment.