Business & Economy: Starting April 22, 2025, a 1% TCS will apply on luxury goods above ₹10 lakh, including items like yachts and designer handbags. This aims to enhance tax transparency and monitor high-value purchases.

New Tax Rules Alert: Buying Luxury? Say Hello to 1% TCS on ₹10 Lakh+ Items

US makes biggest seizure of fake luxury goods at $1 billion in New York

Germany: Museum worker steals, sells 3 paintings to pay off debt, buys Rolls Royce, expensive watches

Jane Birkin was also associated with a Hermes bag that held her name and was designed by the Parisian fashion house in her honour in 1984. As my colleague explains, the Birkin bag is the most wanted luxury item in the entire globe.

How did the Birkin become the monolith of luxury goods market?

More than 30 billion dollars was erased from the luxury goods sector in just one day and that puts a damper on the blazing gain in the industry this year driven by overseas demand especially from China. According to Bloomberg, Hermes International had its shares 5.5 percent, while Loius Vuitton declined by 4% and Gucci Kering SA dropped over 2%.

Luxury stocks lose $30 billion in one day, demand fears hurts luxury firms' stock

The big question remains is Nepal also going to Sri Lanka way? This after the Himalayan nation banned the import of luxury goods to avert forex crisis.

Nepal bans import of luxurious items as foreign exchange reserves decline

After Sri Lanka, Nepal seems to be staring at an economic crisis. The country has put a curb on the imports of non-essential goods, including cars, cosmetics, and gold, after its foreign currency reserves dropped.

Nepal cuts down imports of luxury goods

Louis Vuitton and Dior products boosted first quarter sales at the world's largest luxury goods maker LVMH, kicking off earning seasons for the industry kicking off earnings season for the industry with a show of resilience despite high inflation and consequences of Russia-Ukraine war

Robust demand for luxury goods: Luxury industry prices have increased

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