Terrible: MakeMyTrip Founder over 20% TCS on int'l credit card use

MakeMyTrip Founder Deep Kalra said the government's move to impose 20% TCS (tax collected at source) on spending by credit cards abroad from July 1 is "terrible" and "regressive". "We've been going crazy," Kalra stated. He added that it's not good for the industry and consumers considering overseas travel is something everyone aspires to do at present.