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Credit card forex payments under LRS

Credit Card Forex Payments Under LRS: You have to pay 20% TCS on these transactions from July 1, 2023

New Rule for International Credit Card Users:   On May 16, 2023 the Ministry of Finance issued a notification mentioning to omit rule 7 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000. They shall come into force on the date of their publication in the Official Gazette, according...

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