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TCS on international credit card transactions to increase financial, compliance burden for individual travellers

Published: May 19, 2023

International transactions via credit cards have been brought under the RBI’s Liberalized Remittance Scheme or LRS from May 16, 2023. From July 1, 2023, there will be 20 percent TCS on them with no minimum threshold.

Source: moneycontrol.com

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