Prime Minister Narendra Modi was suppose to be in Japan today to attend the Group of Seven (G7) summit. The prime minister was to visit the East Asian country at the invitation of his Japanese counterpart, Fumio Kishida. However, at the last moment, PM Modi canceled his visit and decided to attend the G7 summit online.
Reportedly, PM Modi canceled his trip to Japan to avoid 20% TCS that Modi government has introduced lately. Three days back, the government announced that Credit card spends in foreign currency will attract 20% TCS.
PM Modi has also asked his ministers and party leaders not to travel abroad to save 20% TCS.
Reportedly, cancelling PM Modi visits alone would save over a billion dollar of TCS in one financial year.
Calling 20% TCS a masterstroke for Middle Class by PM Modi, BJP leaders said it will save thousands for middle class as they won’t travel foreign country to save 20% TCS ultimately saving the entire amount.
Speaking to The Fauxy, a BJP leader said “It will discourage people to travel abroad which will boost tourism within India”.