What is essential financial knowledge?

Wait! What?

I am paying 6.5 lacs (Approx) to government while buying KIA Seltos for 16 lacs approx ?

Its almost 40% and all this is done on my Income that is already taxed 30%!

- Ex showroom = 13.69 Lakhs (It includes 28% GST of 2.66 Lakhs & 17% of Compensation Cess of 1.6 Lakhs)

- Then RTO & TCS = 2 L

- Final On road price = 16.5 L

1. Shouldn't this demotivate us ? Most of us are unaware about this even after having best of education, Why?

2. This is for 1500 cc or lower volume vehicles, for more than 1500cc Compensation cess can go upto 22% - To compensate producer for tax due to GST regime

My fight is against unawareness of financial systems and not taxation system.

Considering India & Its population density, tax is India's need but Cascading of our taxed income with multiple other taxes on daily basis is something to looked forward for

PS : I found this slip on Internet and literally felt why I was not taught this during post grad ?

Why I am not fully aware at once about all taxes I am paying ? Why someone pops up on my screen every other day and tell "Bhai tune to ye ye ye aur ye tax bhi bhara hai" ?

A post from linkedln

credit goes to Shrivastava