Sanchit Goyal, a resident of Bengaluru and a category manager at Flipkart, recently took to Twitter to express his frustration about the high taxes imposed by the government on both earnings and spending. In his tweets he mentioned that he had to give away 30% of his income as tax leaving him with only a small portion for his own needs. Even when he tried to indulge in caffeinated beverages with the remaining money, he was hit with a hefty 28% tax. Read More Business News on our website.
His tweets struck a chord with many sparking a conversation about the burden faced by salaried individuals who often feel like they are working long hours just to hand over more than 50% of their earnings to the government. Sanchit further highlighted the high taxes on basic products such as sugar, cream and choco-bars. He broke down the tax calculations, showing how the government earned approximately 27.5% of the final cost of a choco-bar through various taxes, including 18% GST on sugar, cocoa, condensed milk, and cream.
Sanchit’s tweets garnered significant attention online, with Twitter users sharing their grievances about the impact of taxes on the middle class salaried people who often feel that they work primarily to pay taxes. While some users sympathized with his viewpoint, others had a different opinion on the matter. The discussion on taxes and their impact on individuals’ finances continues to spark diverse opinions and perspectives.