Easy To Use Free Online GST Calculator

Online GST Calculator

Online GST Calculator is the best way to measure the GST number for any purchase and selling of any product and/or service in India. This GST calculator is based on the formula for the measurement of the GST given below. In order to determine the GST for your supplies, you need to know the HSN code and the tax rate for all your items and services. You may use any online GST Rate Checker tool or check the HSN Code List to find out your product/service GST Rate.

 

GST Calculator is an online tool that you can use to calculate the volume of actual tax on both the interstate and intrastate supply of goods and services. GST (Goods & Services Levy) tax system in India in which general tax will apply on all sales of goods and services within the State, outside the State, and/or abroad.

 

Online GST calculator in India helps you to calculate the tax value of your products. You need to pick the type of transaction (interstate or intrastate), the relevant GST rate, and the purchase/sales amount to decide the type of GST applicable and the tax amount.

The new system comprises three fundamental modes of taxation, namely CGST (Central GST), SGST (State GST), and IGST (Integrated GST). Both CGST and SGST shall refer to all intrastate supplies of commodities, while IGST shall apply to interstate and import/export transactions.

GST is a form of indirect tax imposed on the manufacturing of goods and services. GST came into force on 1 July 2017, after the passage of the bill on 29 March 2017. It has replaced most indirect taxes, including VAT, customs fines, surcharges, and many more. Certain products, such as alcoholic drinks, petroleum products, and more, are not subject to a GST levy.

 

Read Also:  Which Are Free Software And Why Do They Have Your Commercial Product?

The GST Goods Or Services Taxes will be charged on the products and services required for the selling of most goods and services. End-users or consumers pay a GST, but those that sell those goods or services are remitted to the State body concerned. Essentially, this tax is what makes countries prosperous. With our free GST Tax Calculator India, you can conveniently test your GST. It is easy to browse and does not require registration.

 

GST is a single indirect tax that contains a number of different indirect taxes from the old regime, such as income tax, VAT, excise duty, etc. The GST law was approved by Parliament on 29 March 2017 and was adopted on 1 July of the same year. Goods and services tax is the indirect tax imposed by the Government of India on all goods and services charged by the Government of India. The GST payment converter lets you calculate the gross or net price of a product on a GST scale. It doesn’t take hours, and there can be no misapprehension of human proportions. You can use a free online GST calculator to search for GST in India.

 

The current rate of GST in India is 18%. However, some luxury goods are taxed at 28 percent, while some goods and services are taxed at 0%, 5%, and 12%. After registration under the GST scheme, each organization will receive a particular GST number. There are different forms of GST received by the government.

 

Goods and Services Tax (GST) is an indirect tax imposed on the sale of goods and services to India. GST has been established as a single tax regime in India since 1 July 2017, replacing all indirect taxes in India. GST is a destination, a systemic and multi-stage tax that depends on any addition of value.

 

Read Also:  Factors to consider while choosing French Transcription Services

The GST Act was introduced by the Central Government at the Budget Session in 2017 and was later approved by Parliament on 29 March 2017. Any of the secondary taxes that have been eliminated are VAT, Federal Excise Duty, Octroi, and Entry Fee.

The goods and services tax is categorized into five different tax brackets, i.e. 0 percent, 5 percent, 12 percent, 18 percent, and 28 percent. However, those products are not charged under the GST, such as alcoholic drinks, fuel, and energy. The special state government charges a tariff on these items on the grounds of the previous tax regime. In order to be registered under the GST, a big and small company must have a GST registration number. In the event of any exchange containing any form of inter-state sales, the integrated GST shall be paid. In the case of some kind of intra-state transactions, the central GST, as well as the State GST, shall be levied.

What are the various heads of tax under the GST?

 

GST is classified into four different headings. Taking a look at the various forms of GST obtained by the Government.

 

  • Global GST: compiled by the Central American Government.
  • State GST: collected by the Administration of the State.
  • Union Territory GST: collected from the government of the Union Territory.
  • Integrated GST: purchased by the Central Government for import and interstate transactions.

 

Integrated Goods and Services Tax is charged on interstate supplies where the position of the producer is separate from the place of supply. An equivalent rate of SGST and CGST, which is roughly half the rate of GST, is valid as an IGST for intrastate supply where it is current.

GST Calculation Formula

The formula for GST calculation is quite easy. 

Where GST is added to the base amount:

GST Amount = (Value of supply x GST%)/100

Net Price = Value of Supply + GST Amount

Where GST amount is included in the value of supply:

GST Amount = Value of supply – [Value of supply x {100/(100+GST%)}]

Net Price = Value of Supply — GST Amount

An example to illustrate how to calculate the GST amount: 
  • Let’s say the value of the supply of goods is INR 1000.
  • The standard GST rate in India is 18%. To calculate the tax amount, multiply the value of supply by GST rate i.e., INR 1000 * 18% = INR 180
  • So the total cost of goods round up to INR 1000 + INR 180 = INR 1180

 

Read Also:  Ten Crucial Things to Do After Moving

Advantages to the GST Calculator

With the aid of the GST calculator, taxpayers can measure the net and gross price of the products on the basis of the GST percentage scale. With the aid of the GST calculator, the IGST can be accurately calculated by helping to bifurcate the rate between the CGST and the SGST. With the assistance of the GST calculator, one can not only save time but also avoid making an error when calculating the actual cost of goods and services.

To delete the GST from the simple number,

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

 

Net Price= Initial GST Number

 

What is the Inclusive number of GST?

Items and Services Tax-inclusive sum denotes the overall value of the goods after the addition of the amount of GST in the original value of the commodity. The inclusive tax shall not be paid to the consumer.

 

What is the Exclusive number of GST?

Goods and Services Tax Exclusive rate denotes the value of the goods by subtracting the amount of GST from the inclusive value of the GST product.