HRAWI on inclusion of international credit cards under LRS and hike in TCS rates to 20%
“The recent inclusion of international credit card payments in the Liberalised Remittance Scheme (LRS) and the significant increase in TCS rates from 5% to 20% coincide with a notable rise in spending on overseas travel by Indian
“The recent inclusion of international credit card payments in the Liberalised Remittance Scheme (LRS) and the significant increase in TCS rates from 5% to 20% coincide with a notable rise in spending on overseas travel by Indian individuals. As the tourism industry relies on both inbound and outbound travel, imposing taxes that discourage expenditures abroad is concerning from a broader perspective. While this move may potentially stimulate domestic travel demand, it could have adverse effects on thousands of outbound travelers. Moreover, it sends an unfavorable signal to the global community, which could impact our industry heavily reliant on inbound tourism,”Mr Pradeep Shetty, VP, Federation of Hotel & Restaurant Associations of India (FHRAI) and President, Hotel and Restaurant Association of Western India (HRAWI).
About Hotel & Restaurant Association Western India (HRAWI)
The Hotel and Restaurant Association (Western India) is a 72 years old Association of Hotels and Restaurants in Western India. Its members include Restaurants and Hotels up to 5-Star Deluxe categories. With membership base spread across Western India, HRAWI covers Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, Goa and Union Territory of Dadra and Nagar Haveli and Daman and Diu, and is considered to be the voice of the Hotel Industry. The association is part of the national body of Federation of the Hotels & Restaurants Associations of India (FHRAI), located in New Delhi, which was originally founded in Mumbai in 1950 by the late Mr J.R.D. Tata.