Product Name | |
Product Price | |
Product Quantity | |
Rate | |
Intrasate/InterState | |
Product Name | Product Price | Product Quantity | Amount |
---|---|---|---|
You can easily use the GST calculator online by following the steps mentioned below:
- Enter the net price of a service or good and the GST slabs such as 5%, 12%, 18% and 28% into the tool.
- Click on the ‘Calculate’ button and get to know the final or gross price of goods and services.
Businesses, manufacturers, wholesalers and retailers can easily calculate GST using this formula:
Simple GST calculation
• Add GST:
GST amount = (Original cost x GST%)/100
Net price = original cost + GST amount
• Remove GST:
GST amount = Original cost - [Original cost x {100/(100+GST%)}]
Net price = Original cost - GST amount
Here’s an example to illustrate this:
Rate (%) | Amount | |
---|---|---|
Original cost of goods | Rs.1,00,000 | |
GST | 18% | Rs.18,000 |
Cost of goods sold | Rs.1,18,000 |
Rate (%) | Pre- GST | Post- GST | |
---|---|---|---|
Cost of product | 10000 | 10000 | |
Excise duty | 12% | 1200 | Nil |
Profit | 10% | 1000 | 1000 |
TOTAL | 12200 | 11000 | |
VAT | 12.50% | 1525 | Nil |
CGST | 6% | Nil | 660 |
SGST | 6% | Nil | 660 |
Final invoice to the wholesaler | 13725 | 12320 |
At a cost point of Rs.10,000, the manufacturer is saving Rs.1405 i.e. a 14% tax saving on the cost. This brings a cost reduction for manufacturers, the benefit of which is ultimately passed on to the wholesalers, retailers and consumers.
Rate (%) | Pre- GST | Post- GST | |
---|---|---|---|
Cost of product | 13725 | 12320 | |
Profit | 10% | 1373 | 1232 |
TOTAL | 15098 | 13552 | |
VAT | 12.50% | 1887 | Nil |
CGST | 6% | Nil | 813 |
SGST | 6% | Nil | 813 |
Final invoice to the consumer | 16985 | 15178 |
GST brings down the cost of the product and thus, the consumer pays a lesser price for the goods at the same profit% earned by wholesalers and retailers.
The online GST calculator help you to find out either gross or net product price on percentage-based GST rates. It saves time and reduces chances of human error while computing the total cost of goods and services.
Age calculator, emi calculator, bmr calculater, bmi calculator, percentage calculator, gst calculator, gst calculator, sales tax calculator, vat tax calculator, compound calculator, markup calculator, margin calculator, love calculator etc..