What is GST?
Goods and Services Tax - GST refers to the indirect
tax imposed on goods and services on every level of the distribution chain. From July 1,
2017, GST came up as single taxation system in India and replaced all
the indirect taxes like central excise duty, service tax, customs duty, VAT, Octroi and
surcharges in the country.
GST is a comprehensive tax levied on the
manufacturing, selling and consumption of consumer good in India. Small and large
organizations are required to have a GST Identification Number (GSTIN) to get registered
under GST policy. When any kind of sales transaction is made within
states (Inter-state), Integrated GST is charged. And for any intra-state sales, Central
GST and State GST are levied
The Type/forms of GST are are below :
SGST known as State GST: It is collected by the Government of the
state.
CGST known as Central GST: It is collected by the Central Government.
IGST known as Integrated GST: It is collected by the Central Government
for inter-state transactions and imports.
UTGST known as Union Territory GST: It is collected by the Government
of the Union Territory.
What is GST Calculator or GST Tax Calculator?
GST Calculator Online provided by easyGSTpro comes handy and makes it
simple for the taxpayers to calculate GST amount. GST Calculator Online
helps you find out how much is GST in a product or service,
what would be the cost after the application of GST. It is simple to use and avoid any
kind of human calculation error possible.
You can calculate both inclusive and exclusive GST
with the calulator. This GST amount Calculator is quick and accurate. You can calculate
your GST amount easily with the GST Calculator online.
How to use GST Tax Calculator to Calculate GST Online?
Online GST Tax Calculator is very easy to use. This Calculator is
simple and can be used to
identify GST amount and total amount after GST. You can also get the
GST Tax amount
from the final amount.
Please follow the below steps to calculate GST using online GST amount
calculator.
- Provide the Amount for the GST.
- Select GST Inclusive/GST Exclusive based on the Amount provided.
- Select the GST rate from the list.
- Click on Calculate, and the result will be displayed on the right. The result will
display the tax amount,
GST, or post-GST amount as per your selection.
Online GST Tax Calculator is recommended for all the tax amount and
will provide you with the error-free result.
How to Calculate GST Amount? GST Calculation Formula
GST calculation method is simple and can be derived from the following
formula.
GST Tax Amount = (GST % x Original cost of the product or service) /
100
Net Price = Original cost of the product or service + GST Tax amount
To deduct GST from Net Price:
GST Tax Amount = Original cost of the product or
service - (Original cost of the product or service x (100 / (100 + GST%)))
Net Price = Original cost of the product or service +
GST Tax amount
Benefits of using GST tax Calculator Online
From July 1, 2017, GST become the single taxation system in
India and replaced all the indirect taxes like central excise duty,
service tax, customs duty, VAT, Octroi and surcharges in the country. So it has now
become so common to get the GST tax amount of a product or service. At
the same time it is very critical to find the correct GST tax amount. Our Online GST
Calculator helps you get the correct amount and in addition to it.
Below are few benifits of using our GST tax calculator
online.
- Save time as compared to other calculation methods.
- No chance of error as compared to human typo mistakes.
- Assist in the calculation of inclusive and exclusive amounts.
- Easy explanation of the formula.
- You can share this calculator for future reference.
- You can embed the calculator in your website.
What is Exclusive GST ?
GST Exclusive amount refers to the value of the product or service
without adding any GST tax to it. If the GST Tax is already added in the amount the we
can get the GST Exclusive amount by subtracting the GST amount from the GST Inclusive
value of the product or service.
How to Calculate Exclusive GST? Exclusive GST Calculation Formula
- GST Tax (Exclusive) = (GST Tax Percentage X Final Price) / 100
- Final Amount (including GST) = Original Cost of product or service + GST Tax
What is Reverse/Inclusive GST?
GST inclusive amount refers to the total value of the product or
service after including GST Tax amount in the original value of the
product or service. The tax is not charged separately from the customer as it is already
the part of final price.
At times it is important to identify the GST tax from the final price.
GST Calculator online is useful and a free tool. Use reverse GST calculator to identify
the Inclusive GST Tax online.
How to Calculate Inclusive GST? Inclusive GST Calculation Formula
If the GST tax is already included in the final price and you need to
find the GST tax in that price. Use the below formula to identify or calculate the GST
tax amount.
- GST Amount (inclusive) = Original cost of the product or service - (Original cost of the
product or service x (100 / (100 + GST Tax Percentage)))
- Net Price = Original cost of the product or service - GST amount