GST Calculator
Don't know how to calculate GST?
Get the best GST calculator in India at Vakilsearch.
Easy GST calculation in seconds, anytime and anywhere!
₹
%
Total cost of selling
₹1,050
Total GST
₹50
Total Profit
₹0
What is GST?
The Goods and Service Tax also called as GST was introduced in India as a form of indirect tax. It was first approved in the parliament on 29 March 2017 and was effectively implemented on 1 July 2017. GST superseded other forms of indirect taxes like excise duty VAT and other service taxes. In simple words all the goods and services in the market are subject to GST.
All the value added systems in India fall under multistage goods and service tax law. This is completely dependent on the state and the type of trade. The whole nation is under GST. Each and every point of sale is taxed under the GST system. Sales that take place inside one state are subject to both central and state sales taxes. The Integrated GST is liable for all interstate sales.
CGST, SGST, and IGST are the three sub components under GST. Out of the three, CGST is collected by the central government in case of intrastate sale. SGST is collected by the state government for internal commodity exchanges. The federal government collects inter state transactions in the name of IGST.
What Is a GST Calculator?
GST calculator is a simple online service that allows you to calculate GST within a few clicks. With the use of a GST calculator, you may determine the net or gross price of your goods using a percentage-based GST rate. It is simple to use; just enter the values of net price and GST rate to get other figures like the gross price and tax amount.
How to calculate GST?
We at Vakilsearch provide taxpayers with a dedicated and expert GST calculator tool that makes calculating GST simple. By using this GST calculator from Vakilsearch one can easily calibrate the total GST and the differential GST rates.
As soon as you access the GST calculator from Vakilsearch use the following steps to calculate GST online.
Step 1: Based on the need, choose the GST Inclusive or GST Exclusive option
Step 2: Type the initial sum in the required field
Step 3: From the drop-down menu selection, choose the GST rate
Step 4: To view the outcome, select Calculate
Now the GST calculator will display the overall GST amount including pre and post GST quantity according to the initial request.
Benefits of Using GST Calculator
CGST, SGST, and IGST tax slabs may be divided using the GST calculator
You may determine which tax bracket your transaction falls under
You can calculate how much tax will be charged on the products or services you are selling or buying
It saves a lot of time
Lowers the possibility of mathematical errors and human errors.
Formula for GST Calculation
Net Price = Original Cost + GST Amount
GST Amount = (Original Cost*GST Rate Percentage) / 100.
The computation of the appropriate taxes has been significantly easier as a result of the indirect taxation regime's simplicity. Based on whether the transaction is intrastate or interstate, it is now possible to determine the GST rates that apply to the various goods or services.
Formula for intra-state GST taxes
GST may be computed using the formulas below in the case of intrastate transactions.
CGST = applicable GST rate/2
If the GST rate is 28 %, then (28/2 =14 % ) this 14% is CGST.
SGST/UTGST = applicable GST rate / 2.
(for a 28 % rate, SGST is 28/2=14 %).
CGST + SGST / UTGST = Applicable GST Rate
Note: For accurate tax computations, the appropriate GST rate must be multiplied by the GST compensation when applicable.
Examples of Understanding GST Calculation
A straightforward example can help to demonstrate how to calculate GST: If an item or service is sold for ₹1,000 and the applicable GST rate is 18%, the net price will be determined as ₹1,180 or ₹1,000 plus (1,000X(18/100)).
Intrastate GST calculation
For instance, assume that a dealer in chennai transferred products worth ₹50,000 to a dealer in andhra. The single type of tax, the IGST, is included in the 18% tax rate. The merchant must charge IGST of ₹9,000 in this situation. The central government will get these funds.
Interstate GST calculation
A Gujarati customer purchases products from the same merchant for ₹50,000. Goods are subject to a 12 % GST. This percentage includes both CGST and SGST, each at 6%. Since the sale is within the state the dealer was required to collect ₹6,000 in GST of which ₹3,000 will be collected by the federal government and ₹3,000 to the state government.
Calculation of GST by Manufacturers
The GST calculation for manufacturers doesn't include the previous 12.5% VAT taxes. It just includes the IGST, CGST and SGST value based on the trade. GST calculation for manufacturers.
| Bill particulars | Percentage | Amount under GST | Amount pre GST |
|---|---|---|---|
| Product cost | ₹20,000 | ₹20,000 | |
| Profit | 10% | ₹2000 | ₹2000 |
| Excise duty | 12.50% | Nil | ₹2500 |
| Total | ₹22,000 | ₹24,500 | |
| VAT | 12.50% | Nil | ₹3062 |
| CGST | 6% | ₹1320 | Nil |
| SGST | 6% | ₹1320 | Nil |
| Final price | ₹24640 | ₹27562 |
Calculation of GST by Wholesale and Retailers
The GST is calculated by retailers based on the GST service rate. For instance let's take an invoice value of ₹20000. If the GST rate is around 12% . Then the total price charged by the retailer will be around ₹22400.
20000×12/100=22400
What Is the Percentage of GST in India
In India the GST rates for goods and services are separated into different schedules and taxed accordingly.
Schedules and rates for goods
| Schedule number | GST rate % |
|---|---|
| 1 | Nil |
| 2 | 0.25% |
| 3 | 3% |
| 4 | 5% |
| 5 | 12% |
| 6 | 18% |
| 7 | 28% |
Schedules and rates for services
| Schedule number | GST rate % |
|---|---|
| 1 | Nil |
| 2 | 5% |
| 3 | 12% |
| 4 | 18% |
| 5 | 28% |
What Is GST Inclusive Amount
GST inclusive amount is the total value of the product including the GST taxes.
You can find out the GST inclusive amount by using this formula.
GST amount = original cost - [ original cost×{100/(100+GST%)}]
What Is GST Exclusive Amount
GST exclusive amount simply refers to the value of the product procured by subtracting the overall GST amount from the GST inclusive value. In simple words it is the amount without including the GST component. You can find this by using the following formula.
GST amount = original cost into GST rate / 100
FAQs on GST Calculation
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