4 min readNew DelhiJun 29, 2023 08:18 AM IST
First published on: Jun 29, 2023 at 08:17 AM IST
🚨 Big Story
The government has decided to defer its earlier decision to include international credit card spends outside India under the Liberalised Remittance Scheme (LRS).
So, what does this mean? Well, in effect this means there will be no levy of Tax Collected at Source (TCS) on international credit card spends outside India as of now.
Updated timeline: The government also extended the timeline to levy the higher proposed TCS rates with effect from October 1 instead of July 1 this year.
But, why? This comes after banks raised concerns about the unpreparedness of their reporting systems to roll out the differential TCS levy for various categories.
⚡Only in the Express
Having accommodated over 12,000 people from violence-hit Manipur, the neighbouring state of Mizoram is now beginning to feel the strain. The Indian Express spoke to multiple top state officials and civil society members, who reiterated the need for funds from the Centre. Read what they said.
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🔴The government has approved a proposal to set up a National Research Foundation (NRF) as an apex body to promote, fund and mentor scientific research in higher education institutions across the country, with the focus on cultivating the culture of research in universities and colleges.
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🔴Bhim Army leader Chandra Shekhar Aazad was injured when unidentified assailants opened fire on his vehicle in Deoband, in Saharanpur district of Uttar Pradesh, on Wednesday.
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