There are three main ways for a resident Indian to invest in Amazon stock, and each offers you very different things. Tokenized spot gives you a token backed by an Amazon share. An LRS broker gives you the share itself. GIFT City now offers two options: depository receipts and, since February 2026, direct US shares through IFSCA-regulated platforms.
The rules have also moved. Budget 2026 changed TCS rates from 1 April 2026, and the Income-tax Act, 2025 replaced the 1961 Act the same day. This comparison reflects the rules as they stand on 6 October 2026. For background on the business, start with our complete guide to Amazon (AMZN) stock.
| Tokenized spot (Mudrex) | LRS broker | GIFT City: NSE IFSC Receipts | GIFT City: Global Access | |
| What you hold | AMZNB token, backed 1:1 | The actual share | Depository receipt | US share, recorded in GIFT City books |
| Legal ownership | No | Yes | Beneficial interest via custodian | Yes, through the platform |
| Minimum | ₹100 | Depends on broker | A fraction of a share | Fractional |
| Pay in | INR | USD | USD | INR, converted to USD |
| Funded through | INR deposit | LRS remittance | LRS remittance | LRS remittance |
| Regulator | FIU-IND registration for the platform | US regulator for the broker | IFSCA | IFSCA |
| Trading hours | Around the clock 24/7 | US market hours only | US market hours only | US market hours only |
| TCS above ₹10 lakh a year | Not applicable | 20% on the excess | 20% on the excess | 20% on the excess |
| Tax on gains | 30% flat plus 1% TDS | 12.5% after 24 months, slab rate before | Generally foreign equity rules | Generally foreign equity rules |
GIFT City tax treatment should be confirmed with a chartered accountant for your situation.
Three updates that would make a difference for an Indian investor looking to buy US stocks such as AMZN:
You deposit rupees, buy AMZNB and hold it in your Mudrex account. The token is issued under the bStocks programme by BTECH Holdings Ltd and backed by a real Amazon share held with a regulated US broker-custodian. The issuer publishes a daily Proof of Collateral.
Where it wins
Where it falls short
You open an account with an international broker or an India-partnered app, remit dollars under the RBI’s Liberalised Remittance Scheme, and buy the share on the Nasdaq.
Where it wins
Where it falls short
TCS example: You send ₹3 lakh abroad for travel in May and ₹12 lakh to your broker in September. Your total is ₹15 lakh, so ₹5 lakh sits above the threshold (₹15 lakh minus ₹10 lakh). Because the travel remittance came first, the full ₹5 lakh excess falls on the investment remittance. TCS at 20% is ₹1 lakh, collected upfront.
GIFT City is treated as offshore under FEMA, so both options below are funded under LRS and regulated by IFSCA rather than SEBI.
You open an IFSC trading account, remit dollars and buy NSE IFSC Receipts, which are unsponsored depository receipts on US shares. Amazon is on the list. Each receipt represents a fraction of a share, and HDFC Bank’s IFSC Banking Unit acts as custodian, with Deutsche Bank in New York holding the underlying shares. Trades run during US market hours, with no STT or stamp duty.
The trade-off: you hold a receipt, not the share, and the list covers only about 50 large US stocks.
NSE IX Global Access lets resident Indians buy US-listed stocks like Amazon directly, with fractional investing. KYC is digital, Aadhaar and PAN are mandatory, and no demat account is needed. You transfer rupees to NSE IX’s designated bank account, and they are converted to dollars under LRS.
IFSCA-authorised Global Access Providers offer a similar route, holding client shares at DTCC and recording each client’s entitlement in audited GIFT City books.
Where it wins: direct ownership of AMZN under an Indian regulator, with rupee funding and fractional buying.
Where it falls short: it still uses your LRS allowance, so TCS applies above ₹10 lakh, and trading follows US market hours.
The holding period decides which route costs less. Take a ₹1 lakh gain, before surcharge:
| Scenario | LRS broker or GIFT City | Tokenized spot |
| Held more than 24 months | 12.5% of ₹1 lakh = ₹12,500, plus 4% cess = ₹13,000 | 30% of ₹1 lakh = ₹30,000, plus 4% cess = ₹31,200 |
| Held less than 24 months, 30% slab | 30% of ₹1 lakh = ₹30,000, plus 4% cess = ₹31,200 | ₹31,200 |
For short holds in the top slab, the cost is similar. For long holds, owning the share wins clearly. Amazon pays no dividend, so dividend tax doesn’t factor into the comparison.
For small, frequent investments, forex and wire costs on the LRS-funded routes add up quickly. For a large one-time investment, the tax difference matters far more.
Many investors combine routes: actual shares for a long-term core holding, and AMZNB for smaller positions around events like quarterly earnings.
READ MORE: For the exact steps, see our guide on how to buy Amazon stock in India. To weigh the outlook first, read our Amazon stock price prediction.
No. Budget 2026 cut TCS for education, medical and tour package remittances from 1 April 2026. Investment remittances still attract 20% above ₹10 lakh a year.
Yes. Resident individuals can remit up to USD 250,000 per financial year across all permitted purposes.
Yes. Amazon is available as an NSE IFSC Receipt, and you can buy the share directly through Global Access platforms such as NSE IX Global Access.
No. You pay in rupees on Mudrex, so no foreign remittance takes place.
For small amounts and short holds, tokenized spot usually costs less. For large sums held beyond 24 months, owning the share through LRS or GIFT City wins on tax.
This article is for information only and is not investment, tax or legal advice. Please consult a SEBI-registered investment adviser before investing. Rules and figures are as of October 2026.
