Credit card users may soon have to pay 20% TCS on forex transactions?

[d3rvish]

Saw this in ET today -
https://economictimes.indiatimes.com/wealth/tax/foreign-trip-booking-credit-card-users-may-soon-have-to-pay-20-tcs-on-forex-transactions/articleshow/99605206.cms
Hard to decipher what the scope of TCS is from this story. Does it apply to all forex transactions on CCs?

Anyone have any insights?

 

[Max]

This is still a draft proposal by the Fin Minister, RBI will notify rules on how CC companies will have to implement them. Till then we have to wait patiently.