GST Calculator

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GST Online Calculator

  • Manufacturer
  • Wholesaler / Retailer
  • Buyer

Manufacturer

Cost of Good (INR)

Profit Ratio (% age)

%

GST Rate (% age)

%

Total Production Cost

GST

Wholesaler / Retailer

Cost of goods

Profit Ratio

%

GST %

%

Total Production Cost

GST

Buyer

Net Price

GST

%

Gross price

GST

What is GST?


Goods and Services Tax (GST) in India is one of the biggest tax reforms in the country. It has replaced all the indirect taxes that were levied on manufacturers, wholesalers, retailers and consumers on all goods and services by the Central and State governments. GST is a multi-stage tax that is charged on every value addition, thereby simplifying the complete taxation process of all businesses.

How to calculate GST?


The calculation of GST is based on the taxpayer’s eligibility for Input tax credit and provisions like reverse charges, inter- or intra state sales, and exempted supplies.

Step 1: Estimating the GST rate

Under the GST Regime, supplies are classified under the Harmonized System of Nomenclature (HSN) that is designed by the World Customs Organization. Every product or service is assigned an HSN code, which is a six-digit number that classifies over 5,000 products across the world.

As a first step, taxpayers have to identify the HSN code for the particular service and goods. It can be found here.

Step 2: Determining the applicability of CGST, SGST and ISGT

Central GST, State GST and Integrated GST are the three components of GST, which are determined based on the transaction whether it is Intra State or Inter-State supply. If the goods and services are supplied and bought within the same state then it is Intra state supply, i.e., if the supplier and the buyer at the same place. Here the CGST and SGST are collected from the buyer. Inter-state supply is when the transaction happens between two different states. The IGST is collected from the buyer.

Under the GST regime, all the goods and services fall under four tax slab rates - 5%, 12%, 18% and 28%. Gold and semi-precious stones are placed at a special rate of 3% and 0.25%, respectively. A total of 81% of all the goods and services fall below or in the 18% tax slab.

Step 3: Verifying for GST on Reverse charge basis

The supplier of the goods/services is liable to pay taxes but in the reverse charge mechanism, the recipient or the buyer is liable to pay GST. There are specific services that fall under this category.

Step 4: Checking if the supplier is under the Composition scheme

Composition scheme offers some relief from tedious GST formalities as it can be opted by taxpayers whose turnover is less than Rs 1 crore.

Step 5: Determining the type of transaction

The transactions are classified into three types:

  • Business to business (B2B)
  • Both the businesses have the eligibility for availing GST input tax credit, provided both have GSTIN
  • Business to consumer - the value of supply is more than 2.5 lakhs
  • Business to consumer - the value of supply is less than 2.5 lakhs

For B2C, the recipient would not be eligible for receiving the input tax credit.

GST Calculation Simple Formula

Add GST

GST Amount = ( Original Cost * GST% ) / 100

Net Price = Original Cost + GST Amount

Using this calculator, you can calculate GST by:

  • Enter the net price of the product or service
  • Enter the slab rate
  • Click “Calculate”
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