TaxTMI 
TaxTMI 
Hi Team,
Please guide regarding statutory compliance needs to be followed in order to regularise payments already made to foreign companies / foreign individuals through credit card.
Regards,
Gurmeet
Mob No.7875199229
Outward Remittance Through Credit Card
27 Oct 2016 
1 Reply 
11843 Views Asked by
International credit card use permitted for foreign purchases, subject to settlement from foreign currency accounts or direct remittance to issuer.
Residents may use international credit cards for lawful foreign purchases, excluding prohibited items; no separate aggregate monetary ceiling applies. Card charges may be settled from the cardholder's foreign currency accounts or by remittance made directly to the issuing agency through the bank where the cardholder holds an account, and remittance to third parties is not permitted. Use of ICCs in Nepal and Bhutan is prohibited. Authorised dealers may issue ICCs to NRIs/PIOs if charges are settled from inward remittances or NRE/FCNR balances. (AI Summary)
Residents may use international credit cards for lawful foreign purchases, excluding prohibited items; no separate aggregate monetary ceiling applies. Card charges may be settled from the cardholder's foreign currency accounts or by remittance made directly to the issuing agency through the bank where the cardholder holds an account, and remittance to third parties is not permitted. Use of ICCs in Nepal and Bhutan is prohibited. Authorised dealers may issue ICCs to NRIs/PIOs if charges are settled from inward remittances or NRE/FCNR balances. (AI Summary)