https://www.taxtmi.com/circulars?id=7667 Clarifies that credit cards, ATM cards and debit cards are treated as currency under foreign exchange rules; international credit cards may be used online for transactions for which foreign exchange can lawfully be purchased, but not for prohibited items or services. Debit and ATM cards may be used for permitted foreign-exchange purchases. Authorised dealers are permitted to accept export payments by debiting an importer's credit card irrespective of the importer's presence in India, where reimbursement will be received in foreign exchange. en-us Thu, 27 Jun 2002 00:00:00 +0530 Thu, 24 Sep 2009 18:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7667 Clarifies that credit cards, ATM cards and debit cards are treated as currency under foreign exchange rules; international credit cards may be used online for transactions for which foreign exchange can lawfully be purchased, but not for prohibited items or services. Debit and ATM cards may be used for permitted foreign-exchange purchases. Authorised dealers are permitted to accept export payments by debiting an importer's credit card irrespective of the importer's presence in India, where reimbursement will be received in foreign exchange. Circulars FEMA Thu, 27 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7667