Home |Tax returns filing | Income tax 33% and GST 28%, eventually paying 61% of their income to the government of India ? Is this calculation correct ?

Income tax 33% and GST 28%, eventually paying 61% of their income to the government of India ? Is this calculation correct ?

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CA Subin VR Subin VR, Chartered Accountant,FCA, DISA (ICAI) verified
Answered on December 24,2020
This is not correct. Income Tax is on your Income. If your income exceeds certain limits, you have to pay tax at slab rates. On the other hand, GST is on the goods and services you are purchasing; not on your income. There are many services/goods without GST viz. Education, Medical Services, Goods like rice, wheat etc.

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