The HVUT, or Heavy Vehicle Use Tax, is once a year tax paid by truck drivers or owners of trucking companies. It goes for drivers operating large vehicles on our nation’s highway, and a number of the money goes towards maintaining roads, alleviating congestion, keeping the roads safe, and funding new contracts.
What may be the rate? At the rate or rates enacted by Central Act respectable Assessment 12. It’s varies between 10% – 30% of taxable income excluding the basic exemption limit applicable to your tax payer.
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