All Forex and international debit/forex card transactions will attract up to 20% MRR, starting July 1st, 2023

Credit card transactions for international payments have also been brought under the purview of LRS & are subject to 20% MRR deductions

The good news - MRR is not an Additional Tax and it can be adjusted against your total income tax liability or can be refunded

Avoid the hassle and buy or transfer foreign currency before July 1st, 2023 to avoid MRR altogether. .