Tax burden on Pre GST car lease owners
GST had left a big gap in our incomes and taken us back to 2 years by reducing our salary by 20K per month almost due to the GST regimot giving input credit for lease transition cars. ASFAIU, we already paid excise duty as part of ex-showroom price to states. But, the same has not been considered in transition to GST and we are levied with 50% of GST from 14.5% of VAT. While the cars prices (Ex-showroom owing to no excise duty now post GST) have been reduced to adjust this phenomenon, the pre-GST leasers are suffering to a large extent. It may look like it's the senior officials who are impacted, but in reality it may not be the case. we are not asking to remove GST. If there's any effective price change, we are willing to pay for it. But, a 30% of excise duty and 50% of GST now again is a double kill on us and it impacted our finances very badly/sadly. For last few council meetings, this has been ignored and GST cess has been raised further without considering the existing lease owners. This does not look fair to me to the best of my knowledge. Please help to let us know what all options we have in case we take it up through legal approach.
Regards
Jaidev