The Indian government has reversed its previous decision of levying a tax on credit card spends outside India. It announced on Wednesday (June 29) that it will defer the inclusion of international credit card spends outside India under the Liberalised Remittance Scheme (LRS).

Good news for India's credit card spenders abroad on Tax Collected at Source (TCS)

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credit card-tax

Good news for India's credit card spenders abroad on Tax Collected at Source (TCS)