Well could be worse like DBS, they just keep charging TCS at the respective rate and give you a TCS certificate at the end of the financial year so you can claim a refund.True, I use DCB Bank's Niyo Global Card. Even there they charge TCS upfront and refund after 14 days.
We wouldn't even know if the 7L is breached or not. If we don't get the refund then it's probably breached.
In this case nothing changes, you still have to pay TCS upfront which sucks big time.
While I get the "good" nature of the new rules it is rather a mindless fix that just screws everyone up rather than addressing the small minority that cause the problem. It is a lazy implementation from the top that just causes headaches to everyone else, from banks to citizens to businesses, left and right for what is a very very small minority.
I do not understand the need to "reinvent the wheel", they come with a square wheel like this and they'll be happy to roll with it. There's plenty of good or different approaches to this issue, but sometimes it feels like they have to come up with 'original' and often dumb and unnecessary ideas, laws, implementation.
Also unless they're able to check against PAN people will just have cards with all banks now and split their expenses so it won't cross 7L per PAN per bank, which seemed to be current state for most banks if they even managed any sort of system unlike DBS which for compliance and to be risk-free, has this approach.