GST Calculator

The Indian government introduced the Goods and Services Tax (GST) on July 1, 2017, consolidating various indirect taxes into a single comprehensive tax. It impacts all goods and services transactions within the country. Businesses in India must register for GST, obtaining a GST Identification Number (GSTIN). Consumers must also pay GST on their purchases. This makes the GST Calculator an invaluable tool to understand how the GST system works.

GST Calculators simplify the process, helping individuals and businesses accurately compute the GST on products and services. It enhances transparency in financial transactions, making the GST system more accessible and efficient.

Optimize your tax calculations effortlessly – try the Buddy Loan GST Calculator now for quick and precise GST Tax computations on the products and services!

Total GST :  ₹180
Post GST Amount :  ₹1,180

GST Calculation Formula

GST calculators employ a standardized method for calculating GST, encompassing two key functionalities: adding GST and removing GST from the total price of an item.

When adding GST, the formula is as follows:

GST amount = Price × GST%

Net price = Cost of the product + GST amount

When removing GST from the net price, the formula is:

GST = Original cost − [Original cost× 100/100+GST%]

Net price = Original cost − GST

Example: Let's consider a product with an original cost of Rs. 200.

Adding GST:

If the GST rate is 12%,

GST amount = 200× 12/100 =Rs.24

Net price=200+24=Rs.224

So, with a 12% GST, the final amount to be paid is Rs. 224.

Removing GST:

If the post-GST cost is Rs. 224 with a 12% GST,

GST = 224−(200× 100/112) = Rs.24

Net price=224−24=Rs.200

Thus, the original cost before GST is Rs. 200.

How To Use Buddy Loan GST Calculator?

Buddy Loan offers taxpayers a dedicated and professional GST Calculator tool that helps calculate GST easily. Taxpayers who want to calculate GST with the differential GST rate can use this tool. Here are the steps to use a GST Calculator:

  • Step 1: enter the Original Cost of the product.
  • Step 2: select or input the applicable GST Rate.
  • Step 3: click on the 'Calculate' button.
  • Step 4: receive the calculated GST Amount and Total Cost.

Advantage of using Buddy Loan GST Calculator

Buddy Loan GST Calculator helps you streamline your tax calculations effortlessly. With a user-friendly interface, it offers swift and precise Goods and Services Tax computations. Here are the benefits of using the Buddy Loan GST calculator:

  • Quick Results: instantly calculate GST online.
  • User-Friendly: easy interface for hassle-free calculation.
  • Accurate Figures: provides precise GST amounts.
  • GST Inclusive/Exclusive Options: flexibility to calculate both inclusive and exclusive amounts.
  • Accessible Anytime: available online for convenience.

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Frequently Asked Questions

GST aimed to simplify the taxation structure by subsuming multiple indirect taxes into a single tax.

Yes, GST Identification Number (GSTIN) is mandatory for businesses with a minimum turnover.

Taxes like VAT, Service Tax, Central Excise, and others are subsumed under GST.

GST has slabs of 5%, 12%, 18%, and 28%, each applicable to different categories of goods and services.

GST Inclusive Amount is the total cost of a product or service, including the GST.

GST Exclusive Amount is the original cost of a product or service before adding the GST.

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