Final Thoughts 💭
1️⃣ The government earns more than the car manufacturer!
2️⃣ The tax burden is more than the car’s base price!
3️⃣ Even after buying the car, you keep paying taxes on fuel, tolls, servicing, etc.
Food for thought?
How Much Tax Do You Pay When Buying a ₹20 Lakh Car in India? 🚗💰- a thread
Ever wondered how much tax you actually pay when purchasing a car in India? From earning the money to driving it for the first time, let’s break it down step by step! 🧵👇
Total Taxes Paid:🤯
Let’s sum up:
✅ Income Tax (30%) before purchase: ₹9,00,000
✅ GST + Cess on Car (50%): ₹10,00,000
✅ Road Tax (15%): ₹3,00,000
✅ GST on Insurance (18%): ₹10,800
✅ Fuel Tax: ₹45 per liter (recurring cost!)
Total Taxes Paid: ₹22+ Lac for a ₹20 lac car
Ok. Make me understand @OfficialIGNOU I have registered for this Course MS424 for June 21 session. I appeared in exams on 13th this month and received the study material on 16th yesterday (after appearing in exams). This has been the problem with Ignou all through. Fraud?