GST Calculator

GST

%

Total GST

Post-GST amount

Goods and services tax or GST is a major tax reform in the Indian tax system. Implemented through a constitutional amendment in 2016, GST paved a way for the rationalization of the Indian taxation regime of indirect taxes. The proposed GST removed almost all indirect taxes such as VAT, excise duty, sales tax, etc., on a number of goods and services. GST is meant to be implemented at every stage of the production of goods, however, it is refunded to all the parties except the last consumer. 

The implementation of GST at every stage requires all the involved parties to pay the applicable tax amount and file GST returns to get the refund. This makes the calculation of GST imperative in order to get the full amount of money back you are entitled to. To help yourself out, you can use a GST calculator India and make GST calculations easily. In this article, we will learn everything about GST calculation, how to calculate, what is GST calculator and how we can use that for our benefit.

What is GST Calculator?

GST calculator India is a simple tool used to calculate the applicable GST amount on the purchase of goods and services. It also allows you to know the amount of GST included in the price of a product. To use a GST calculator, you have to enter the following details:

  • Price to calculate: You have to select whether you want to calculate GST from GST exclusive price or GST inclusive price
  • Total amount: The price (inclusive or exclusive) of the product
  • Tax slab: The GST tax slab under which the product falls

Based on the entered values, the GST calculator will show you the following results:

  • Total GST Amount: Amount GST applicable on the original cost of the product
  • Pre/post GST Amount: Price of the product inclusive/exclusive of GST

You do not have to use any formula. The calculator uses the applicable formula automatically and gives you the most accurate results. You can use the CashZeni GST Calculator to calculate GST on your purchases.

What are the various GST tax heads?

Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Union Territory Goods and Services Tax (UTGST), and Integrated Goods and Services Tax (IGST) are the four types of GST (IGST).

Central Goods and Services Tax (CGST): The Central Goods and Services Tax (CGST) merged all of the taxes levied by the central government. For example, previously applicable central excise duty, central surcharges and cess, and other such central indirect taxes.

State Goods and Services Tax (SGST): The State Goods and Services Tax (SGST) incorporates all state government taxes, including state indirect taxes. VAT, sales tax, state cesses and surcharges, and so on.

Integrated Goods and Services Tax (IGST): This tax is imposed on interstate transportation of goods and services.

Union Territory Goods and Services Tax (UTGST): An Act to provide for the imposition and collection of taxes on intra-State supplies of goods or services, or both, by Union territory, as well as things connected with or incidental thereto.

What is GST inclusive amount?

The GST inclusive amount is the total worth of the product after including the GST charge in the original value. The tax is not charged to the customer separately.

What is GST Exclusive Amount?

The GST Exclusive amount is calculated by deducting the GST amount from the GST Inclusive value of the product.

How to Calculate GST Percentage?

Since GST calculation becomes elementary when you are running an enterprise, it is of utmost importance that you should know how GST is calculated. 

There are two cases of calculating GST-

i) When you have to add GST on the price of the product/service to get the net price

ii) When you have to remove GST from the price that is inclusive of GST

For GST Addition

For adding GST to the cost of the product/service, you have to use the following GST formula:

Final price = Price of the product + applicable GST

Applicable GST = (Price x GST%)

Let us understand this with an example. Suppose, you bought a product of Rs 1,000 that comes under the 18% GST slab. You have to pay-

Rs 1,000 + (18% of 1000) = 1000 + 180 = Rs 1,810

For GST Removal

The GST calculation formula used to remove GST from the GST inclusive price of a product is:

Original Price = Price of the product – GST = Net price – [{100/(100 + GST%)}]

Let us use a GST calculation example to calculate the same:

Suppose you bought a product of selling price (inclusive of GST) Rs 105 and it comes under the 5% GST slab. 

Original price = 105 – [{(100/(100 + 5)} = Rs 100

You might be thinking of a better way of calculating GST. Well, you can take the help of the GST calculator which is an easy-to-use online tool that enables you to calculate the total payable GST quickly.

How to Use the CashZeni GST Calculator?

Using the CashZeni GST calculator is a job of just a few clicks. Follow these two steps and you will have the GST amount instantly.

Step 1: Open CashZeni GST calculator on your computer or smartphone

Step 2: Enter the total amount (price), tax slab under which the product falls, and select whether you are entering GST inclusive or GST exclusive price.

All done! The GST calculator will use the formula of GST and show you the results in real time.

How Can You Use the CashZeni GST Calculator to Your Advantage?

The CashZeni GST calculator helps you in the following ways:

  • You can calculate the payable GST amount anytime you want and all within a few seconds. This enables you to keep your business finances running smoothly
  • By paying the correct amount of GST, you will be free from hassles that arise after wrong tax filings
  • Having payable GST amount beforehand allows you to estimate how much GST refund you will receive
  • The CashZeni GST calculator saves you from doing manual calculations by using difficult formulas. Furthermore, the calculation in no time, and the results are displayed immediately

Running an enterprise is a big job and you cannot waste time doing manual calculations. To keep revenues, profit, and all other important figures as accurate as possible, it is important to calculate the total GST amount. You can take the help of the India GST calculator and get your bookkeeping done correctly.

Frequently Asked Questions

Who is eligible to use the GST calculator?

People involved in any type of trade – buyer, manufacturer, and wholesaler – can use the GST calculator.

What is a GST calculator?

A GST calculator is used to figure out how much GST is due for a given time period.

How does the GST calculator work for manufacturers and wholesalers?

Enter the cost of production/cost of the goods, the profit margin, and the GST rate. The whole cost of production, CGST, SGST, and total tax will all be displayed.

What advantages does the GST calculator offer?

When calculating the entire cost of goods and services and the tax amount, the GST calculator saves time and lowers the possibility of human error.