GST stands for Goods and Services Tax that would be implemented from 1st July, 2017 which already put the vehicle industry. This tax is especially fleet the vehicles and also the app based aggregators in the mark of bother. A lot of people worried about this goods and services tax because it would become as the tax burden to everyone. It is currently the value added tax of about 12.5 to 13 % which will rise to 43 % and also increase to 30 %. At last, Uber and Ola who are the taxi aggregators and they have leased over 25 thousand cars for them and expect the same rush from the next month once all the drivers understand the impact of GST on the road side vehicles.
Now, such driver partners actually pay about 14.5 % VAT because they know the importance and needs of paying tax to the government. In this recommended GST regime for the vehicles, the drivers will definitely have to bear the particular GST rates of over 29 % to 43 % on the already leased cars. It is actually a result of double taxation on the available leases. It will surely have a noticeable impact on the livelihood of the car drivers to set them back by over one lakh rupees for the remaining lease period. It is to make it enviable for supporting their business better. This new tax on the goods and services will absolutely leave a very big hole also in the pockets of the corporate executives.