GST Calculator
About GST Calculator
A GST calculator is a handy tool to quickly compute the Goods and Services Tax (GST) amount on goods and services. You can use it by entering the product price and selecting the applicable GST rate to get the total cost, including tax. It simplifies tax calculations for businesses and consumers.
GST Tax
What is GST Tax?
Goods and Services Tax (GST) is a unified tax imposed on the supply of goods and services across India. It replaces multiple indirect taxes like VAT, excise, and service tax.
How It Works
GST is a multi-stage, destination-based tax. It is levied at every stage of production but is refunded to all parties in the supply chain except the final consumer. There are different GST rates like 5%, 12%, 18%, and 28%, depending on the type of product or service.
How We Can Calculate GST Tax
GST can be calculated using the formula:
GST Amount = (Original Price × GST Rate) / 100
Final Price = Original Price + GST Amount
Example
If the price of a product is ₹1,000 and the GST rate is 18%:
GST Amount = (1000 × 18) / 100 = ₹180
Final Price = ₹1,000 + ₹180 = ₹1,180
No comments:
Post a Comment