GST Calculator

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₹ 1 Cr
GST Amount
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If CGST & SGST/UTGST is to be applied then CGST and SGST both amounts are half of the total GST amount

What is GST?

Goods and Services Tax (GST) is an indirect tax imposed in the supply of goods and services in India.  Replacing all the indirect taxes in India, from 1st July 2017 GST has come up as a single taxation system in the country. GST is a destination, comprehensive and multi-stage based tax imposed on every value addition.  In the budget session in the year 2017, the GST Act was passed by the Central Government which was further approved by the Parliament on March 29Th, 2017. Some of the indirect taxes that are abolished are VAT, Central Excise Duty, Octroi and Entry Tax.

The goods and services tax are divided into five different tax rates i.e. 0%, 5%, 12%, 18% and 28%. Nevertheless, there are some products which are not taxed under GST such as alcoholic drinks, petroleum and electricity. The individual state government implies tax on these products based on the previous tax regime. In order to get registered under GST, the large and small organization requires having GST identification number. In case of any transaction of any kind of sales within inter-states, integrated GST is charged.  In case of any kind of sales made intra-state then central GST, as well as State GST, is imposed.

What is the Different Tax Heads Under GST?

GST is categorized under four different heads. Let’s take a look at the different types of GST collected by Government.

  • Central GST: Collected by the Central Government.
  • State GST: Collected by State Government.
  • Union Territory GST: Collected by Union Territory Government.
  • Integrated GST:  Collected by the Central Government for imports and inter-state transaction. 

Integrated Goods and Services Tax is imposed for interstate supplies where the location of the supplier is in a different state as compared to the place of supply. An equal rate of SGST and CGST which is around half the rate of GST is applicable as IGST for intrastate supply wherein the location of supplier and place of supply is in the same state.

What is GST calculator?

GST calculator is a simple and easy online tool which is used to calculate GST payable for a quarter or month.

How is GST Computed?

With the integrated system of taxation, the taxpayers can now know the tax imposed at different points for different goods and services under GST rule. For the computation of GST, the taxpayer should know the applicable GST rates to different categories. The calculation of GST can be explained by a simple example.

If services or goods are sold at Rs1,000 and the applicable GST rate of 18%, then the net calculated price will be- 1000+(1,000x(18/100)=1,000+180=Rs.1,180.

How to Calculating GST using the GST Calculation Tool?

GST can be calculated by following two simple steps:

Step1- Enter the respective details:

  • Net price of goods and services
  • Applicable GST rates such as 5%,12%,18% and 28%.

Step2- Click on the compute button. The GST calculator will show the tax amount for different tax heads SGST, CGST and IGST along with the gross/final price of services and goods to be billed.

Advantages of GST Calculator

With the help of GST calculator, the taxpayers can determine the net and gross price of the product based on percentage GST rates.  With the help of GST calculator, one can compute the IGST accurately as it helps to bifurcate the rate between CGST and SGST. With the help of GST calculator, one can not only save time but can also avoid making an error while calculating the total cost of goods and services.  

GST Calculation Formula

In order to calculate GST, an individual can use the below-mentioned formula:

To add GST to the Base Amount,

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

Net Price= Original Cost +GST Amount

To remove GST from the Base Amount,

GST Amount= Original Cost-(original cost X (100/(100+GST%)))

Net Price= Original cost-GST Amount

What is Inclusive GST amount?

Goods and Services Tax inclusive amount denotes to the products total value after inclusion of GST amount in the original product value. The inclusive tax is not charged sdoes not chargerom the customer.

What is Exclusive GST amount?

Goods and Services Tax exclusive amount denotes to product value subtracting the amount of GST from the inclusive GST product value.

Examples for Understanding GST Calculation

Let’s take a look at a simple illustration for GST calculation:

Particulars

Rate (%)

Amount

Invoice Value

12%

100,000

GST

12,000

Price charged on invoice

1,12,000

Manufacturers GST Calculation:

Particulars

Rate (%)

Amount Pre-GST

Amount Under GST

Product Cost 

-

2,00,000

2,00,000

Excise Duty

12.05%

25,000

Nil

Profit

10%

20,000

20,000

Total

-

2,45,000

2,20,000

CGST

6%

Nil

13,200

VAT

12.50%

30,625

Nil

SGST

6%

Nil

13,200

Final Invoice to the wholesaler

-

2,75, 625

2,46,400

On cost of per 1000 points, the manufacturer saves Rs.146. Due to change in tax; the manufacturer can save up to 14% on the cost.

This cost reduction benefit for the manufacturer is passed on the wholesalers, retailers and end-consumer.

GST Calculation for Retailers and Wholesalers:

Particulars

Rate (%)

Amount Pre-GST

Amount Under GST

Product Cost 

-

2,75,625

2,46,400

Profit

10%

27,563

24,640

Total

-

3.03,188

2,71,040

CGST

6%

Nil

16,262

VAT

12.50%

37,898

Nil

SGST

6%

Nil

16,262

Final Invoice to the end-consumer

-

3,41, 086

3,03,565

 Under GST rule the product cost falls resulting in the end-customers to pay less price for the goods and earn the same profit margin as earned by the retailers and wholesalers.