TCS increase will hamper both our business and government revenue: Riaz Munshi

Riaz Munshi, President, OTOAI, has said that the TCS being increased to 20% will hamper our business and at the same time there is going to be a huge deficiency in government revenue as people would prefer to either book through foreign tour operators or foreign OTAs to save GST and TCS both. “At present as well, outbound tour operators and government of India is losing revenue on the same grounds,” he added.