Gross Price
₹ 0.00
CGST Amount
₹ 0.00
SGST Amount
₹ 0.00
Total Tax
₹ 0.00
Production Cost
₹ 0.00
Profit Amount
₹ 0.00
Total Tax
₹ 0.00
Selling Price
₹ 0.00
Purchase Price
₹ 0.00
Profit Amount
₹ 0.00
Total Tax
₹ 0.00
Selling Price
₹ 0.00
GST has brought to simplifying taxation for service and commodity businesses. GST is an indirect tax applicable to the supply of goods and services in India.
Indirect Tax: An indirect tax (such as sales tax, Value added tax
(VAT) and Goods & services tax (GST ), excise, cess and tariff) is a tax collected by an intermediary (such
as a retail store) from the person who bears the ultimate economic burden of the tax (such as the consumer).
The GST was launched at midnight on 1st July 2017 by the President
of India, and the Government of India.
Goods and services are divided into different tax slabs for
collection of tax - 0%, 5%, 12%, 18%, 28%, etc. (same slabs for IGST)
However, some products such as
petroleum products, alcoholic drinks, and electricity are not taxed under GST. These products are taxed by
the individual state governments separately, as per the previous tax regime.
With all the details filled into a GST invoice format PDF , you're good to go. All you need to do is download
the edited invoice format and share it with your client.
Implementing a single indirect tax is beneficial in many ways such as
Transparency and Centralisation
GST provides transparency throughout the tax structure. GST also brings centralised registration and online mechanism gives a chance to small businesses to file their tax returns easily. This allows to reduce the difficulties of the multiple taxation process as hiring tax experts is not an easy task for them.
Relaxation in Threshold limit
Also relaxation in threshold limit of aggregate turnover for service provider companies (lower than Rs. 20 lakh is exempted from paying tax & in case of North Eastern states, the threshold is at Rs.10 lakh) will give relief to the small businesses from lengthy taxation process.
Composition Schemes
Taxpayers under composition schemes will be beneficial by paying only 1% tax on their turnover after implementation of GST. (company can be registered under composition if turnover is up to Rs. 75 lakh only)
Overall positive impact
GST is expected to leave a positive impact on India's GDP by increasing competition among the manufacturers and sellers to provide high-quality goods. It will boost export and manufacturing activity, and it will generate employment for a common man in India.
Prevent double taxation
By implementing GST the government wanted to prevent double taxation of commercial goods which in turn will bring down the production cost for companies. Thus, increase the competition among exporters.
Brings regulation
GST brings regulations to unorganised sectors. It also reduces corruption. Moreover, Sales without receipts also reduced after implementing GST.
Reduced taxes and discrepencies
Due to GST implementation taxes on certain goods reduces by 2% and some by 7.5%. GST eliminated the border taxes and resolved check-post discrepancies which in turn reduced logistics cost.
In India, there are 4 types of GST rates
Popular Goods: The goods of basic amenities are covered under this slab such as sugar, oil,
Frozen vegetables, Fertilizers, Plastic waste, tea, ayurvedic medicines, spices, agarbatti,
coffee,coal, sliced dry mango, cashew nuts, lifeboats, fish fillet, sweets, handmade carpets,
unbrandednamkeen, and life-saving drugs.
Popular Services: The services under this slab include railways, airways, AC and Non-AC
restaurants, hotel rooms with a tariff of less than 7,500, takeaway food, Newspaper printing, and
special flights for pilgrims.
Popular Goods: Under this slab, the products like a sewing machine, umbrella, jewelry box,
cell phones, along with processed foods like frozen meat, Pouches, purses & Handbags, nuts,
fruits,fruit juices, butter, cheese, ghee are covered.
Popular Services: The services under this slab include Building construction for sale, movie
tickets below 100 and business class flight tickets.
Popular Goods: Under this slab products like hair oil, mineral water, hair shampoo, oil
powder, water heaters, washing machine, safety glass, pasta, pastries, ice-cream, detergent, scent
sprays, leather clothing, artificial flowers, wristwatches, cookers, oil powder, cutlery,
binoculars, suitcase, briefcase, shaving, after-shave, television screen, lithium-ion batteries,
furniture, stationery items, mattress, Camera, monitors and video games are covered.
Popular Services: The services under this slab include Outdoor Catering, IT services, Telecom
services, restaurants within hotels whose tariffs are above 7500, actual hotel bills below ₹7,500,
and movie tickets above 100.
Popular Goods: Under this slab, over 200 products are covered like cars, cigarettes,
Sunscreen,consumer durable products, high-end motorcycles, pan masala, weighing machine, cement are
covered.
Popular Services: The services under this slab include racing, cinema, betting in casinos,
Food/Drinks/Stay at AC Five Star Hotels where the actual bill of hotel stays above 7,500.
Popular Goods: Some products are of regular consumption include raw material, eggs, besan,
flour, bread, salt, sanitary napkins, natural honey, curd, sindoor, deities made of stone, kajal,
oat, rye, bangles, handloom, newspapers, picture books, color books, manuscripts and Rakhis without
precious metals.
Popular Services: The hotels and lodges with tariff below 1,000, plus IMM course books, bank
charges on the savings account.
The Government of India has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%,
18% and 28% under GST. Aside from that, some special GST rates were enforced as below-
1. Tax on gold kept at 3%, Although 5% of GST is applicable to making charges of gold
jewelry. A jeweler can avail ITR of the making charges but In the final bill, only 3% of GST will be
applicable.
2. A special rate of 0.25% is levied on Rough precious and semi-precious stones under
GST.
3. In the case of real estate -
GST is levied only when an under-construction property is
purchased.
1% for affordable house properties
5% for non-affordable house properties
12% GST for commercial property
However, no GST is levied when you purchase a ready to move
in property
There is a positive effect of GST in India without any doubt. Concluded that switching to the GST system from the old complicated indirect tax system is a positive step in the booming Indian economy. Single tax for one India became a game changer in a positive way and proved beneficial not only for the common man, but to the country as a whole. Earlier we used to pay service tax & VAT both, after GST there is a single tax. Let’s have a look with a example how GST is impacting Product pricing -
Old Tax System (VAT) | GST System (Avoidation of Double Taxation) |
Price of a product sold from Jodhpur to Jaipur = Rs.10,000 | Price of a product sold from Jodhpur to Jaipur = Rs.10,000 |
VAT @ 12% = Rs.1200 | CGST @ 6% = Rs.600 + SGST @ 6% = Rs.600 |
Cost of a product sold from Bangalore to Jaipur = Rs.11,200 | Cost of a product sold from Bangalore to Jaipur = Rs.11,200 |
Profit = Rs.10,000 | Profit = Rs.10,000 |
Selling Price = Rs.21,200 | Selling Price = Rs.21,200 |
CST @ 12% = Rs.2544 | IGST @ 12% = Rs.2544 But 2,544-(600+600 i.e. CGST and SGST)=1344 |
Total Final cost of the product 21,200 + 2544 = Rs. 2,3744 |
Total Final cost of the product 21,200 + 2544 = Rs. 2,2544 |
In the above example we can conclude that the tax paid on sale within the state can not be claimed against
tax paid on sale outside the state in the Old Tax system. However in the GST system the tax paid on sale
within the state can be claimed against tax paid on sale outside the state.
Note:-The credit of CGST cannot be taken against SGST and vise versa but both credit can be taken against
IGST.
What are different tax heads under GST?
Types of GST depends on the place of supply of the goods or services. Goods supplied or
services provided under 4 Heads:
1.)CGST (Central Goods and Service Tax) Intra-state
(Collected by the Central Government on supplies within the state)
2.)SGST (State Goods and
Service Tax) Intra-state (Collected by the State Government on supplies within the
state)
3.)UTGST (Union Territory Goods and Service Tax) Collected by the Central Government
on intra-state supplies that takes place in any of the five territories of India, including
Andaman and Nicobar Islands, Dadra and Nagar Haveli, Chandigarh, Lakshadweep and Daman and
Diu, governed by Union Territories Goods and Services Tax Act, 2017
4.)IGST (Integrated Goods
and Service Tax) & additional tax* Inter-state (Collected by the Central Government
on
supplies outside the state or between two-state)
There could be the following combination of
taxes applicable for any transaction:
●For Supply of goods and/or services within a state (Intra-State): CGST + SGST
●For Supply of goods and/or services within Union Territories (Intra - UT): CGST + UTGST
●For Supply of goods and/or services across States and/or Union Territories (Inter-State/
Inter-UT): IGST
What is Indian GST Calculator?
GST calculator is an easy & Ready-to-use online calculator to compute the GST amount inclusive in Product base amount or the additional GST amount applicable on Product base amount. Apart from that indian GST calculator can be used to calculate GST payable after deduction of Input tax credit for a specific period of time. This calculator can be used by any kind of businesses such as Retailers, Manufacturers, Distributors, Wholesalers etc.
What is the GST Inclusive amount?
The Value comes after including the GST amount in the original value of the product is known as GST inclusive amount. It means the tax will be not charged separately from the customer.
What is the GST Exclusive amount?
The Value comes after subtracting the GST amount from the GST Inclusive value of the productis known as GST Exclusive amount. It means the tax will be charged separately from the customer.
Advantages of Indian GST Calculator
The GST calculator helps you determine the gross or net product price on percentage-based
GST rates. It saves time and reduces the chances of human error while computing the cost of
goods and services.
Here are some of the key benefits of using a GST calculator:
It helps to determine the net product price on GST
rates.
It calculates each tax ( SGST, CGST and IGST)
accurately.
It provides instant results and saves time.
It helps to reduce the risk of human error.
It simplified the work to calculate tax price of
product
It is easy to use GST calculator to calculate GST
in a hassle-free manner.
GST can be calculated simply by following below formula:-
Formula to calculate India GST:
GST Amount = ( Original Cost * GST% ) / 100
Net Price = Original Cost + GST Amount
Example:-
Original cost = 100, GST% = 18
(100*18/100) = 18 (GST amount)
(100+18) = 118 (Net price)
Formula to remove GST from base amount:
GST Amount = Original Cost – (Original Cost * (100 / (100 + GST% ) ) )
Net Price = Original Cost – GST Amount
Example:-
Original cost = 100, GST% = 18
100 - (100*(100/ (100+18))) = 15.24 (GST amount)
100 -15.24 = 84.74 (Net price)
Point Of Difference | GST | VAT/CST (Old Tax structure) |
Basis of levy | GST is a destination-based tax, levied on the supply value of goods and services. | Under VAT, tax levied on the sale value of only goods at the place where goods are manufactured or sold |
Structure | Under GST, Same tax rate across the country on all commodities and services apart from motor spirit, petroleum, natural gas and high-speed diesel. | Under the old taxation system, different tax rates were followed by every state. |
State Laws & Rules | State GST (SGST) is levied for states, while Central GST (CGST) is levied for the centre. For the supply of goods and services across states, Integrated GST (IGST) is charged. If a Union territory is involved, then Union Territory GST (UGST) is levied. | Different rules were followed by every state. |
Registration | Uniform e-registration which depends on the PAN of the entity. | Registration was decentralised under state & central government. |
Tax Collection | Tax process is uniform and proceeds benefit both state and central governments. | Tax amount was collected by the state in which the sale transaction has taken place. |
Filing of Return | Dates for collecting or depositing tax and filing returns are common for each state. | Different annexure returns had to be prepared because every state return had to be filed separately. |
Transportation Rules | The movement of commodities across states requires preparation of an e-way bill, which has national validity. | Several forms had to be filled since each state had differentrates & regulations. |
Cross set-off of levy | Set-off between State GST and Central GST is not allowed. | Set-off of service tax and excise duty was allowed. |
Threshold limit | Central excise was Rs.1.5 croreVAT between Rs.5 lakh to Rs.20 lakh depending upon the state. Service tax was Rs.10 lakh. | GST range is between Rs.10 lakh to Rs.20 lakh based on recommendations of the GSTCouncil. |
GST calculator is ready to use a calculator that helps accountants compute the value of payable GST for a defined time frame. The calculator is helpful for any buyer, seller, professional, trader, or small business owner who is obliged to collect or pay GST tax involved in a transaction. You can do all the required calculations to compute GST using an online GST calculator.
GST calculator helps understand the split in price or product and GST applicable on it clearly. It helps determine the gross sale value and gives you a division of percentage-based GST tax rates. Using it in an invoice, you can highlight the apparent breakup of CGST, SGST, and IGST in an invoice. Our online GST inclusive calculator India can make the whole process of calculating GST and using it in an invoice seamless for small business owners.
You can calculate GST applicable on the sale/purchase of any product/service seamlessly using
our online GST inclusive calculator India. Here are some steps to help make the whole process
seamless for you.
Step 1:
Enter the amount and profit ratio.
Step 2:
Choose one of the applicable GST rates.
How is GST calculated in India?
1. To calculate the GST you have to multiply the GST rate with the original/ basic cost or
taxable amount of the product.
GST Amount = ( Original Cost * GST% ) / 100
Net Price = Original Cost + GST Amount
Example:-
Original cost = 100, GST% = 18
(100*18/100) = 18 (GST amount)
(100+18) = 118 (Net price)
2. Formula to remove GST from base amount:
GST Amount = Original Cost – (Original Cost * (100 / (100 + GST% ) ) )
Net Price = Original Cost – GST Amount
Example:-
Original cost = 100, GST% = 18
100 - (100*(100/ (100+18))) = 15.24 (GST amount)
100 -15.24 = 84.74 (Net price)
How do you calculate excluding GST Amount?
Formula to remove GST from base amount:
GST Amount = Original Cost – (Original Cost * (100 / (100 + GST% ) ) )
Net Price = Original Cost – GST Amount
Example:-
Original cost = 100, GST% = 18
100 - (100*(100/ (100+18))) = 15.24 (GST amount)
100 -15.24 = 84.74 (Net price
How do I calculate GST online?
It is good to calculate the gst online. Using our “Online GST calculator”, you can calculate the exact GST for a particular product. By using Vyapar to calculate the GST, you can get the GST included in the product price and calculate the additional GST amount needed to be charged on the basic price of a product. It also helps to save your time, avoid human errors and keep the GST calculation easy.
What are the 3 types of GST?
CGST, SGST and IGST are the three types of GST in India. CGST and SGST are collected by the centre & state respectively; and these are levied on intra-state transactions. IGST is charged and shared by both centre & state and this is levied on inter-state transactions.
What is CGST, SGST and IGST?
These are the types of tax collected by the state and central government on goods and service
transactions made by any taxpayer.
CGST stands for Central Goods and Service Tax. Levied on Intra-state transactions & Collected by the
Central Government on supplies within the state.
SGST stands for State Goods and Service Tax. Levied on Intra-state transactions & Collected by the
State Government on supplies within the state.
UTGST stands for Union Territory Goods and Service Tax. Levied on intra-state supplies that take
place in any of the five territories of India, including Andaman and Nicobar Islands, Dadra and
Nagar Haveli, Chandigarh, Lakshadweep and Daman and Diu. Collected by the Central Government,
governed by Union Territories Goods and Services Tax Act, 2017
IGST stands for Integrated Goods and Service Tax & additional tax* Levied on Inter-state
transactions & Collected by the Central Government on supplies outside the state or between
two-state
How is SGST and CGST calculated?
If the SGST and CGST is applied then SGST & CGST both will contain equal amounts of GST.
For example: Original cost is Rs. 400, GST is 5% and GST amount is Rs. 20
Then the SGST will be 2.5% = Rs. 10, CGST will be 2.5% = Rs. 10
What is IGST example?
IGST stands for Integrated Goods and Service Tax. This is levied only on inter-state means state to state supplies. For example, if goods are moved from Rajasthan to Uttar Pradesh, the IGST will be levied on such supplies.
How is GST charged?
GST is the single indirect tax for a nation which was launched at midnight on 1st July 2017 by the
President of India, and the Government of India. Afterwards the GST is levied on every point of sale
or supply of goods and services. Gst is being charged on the basis of destination of goods and
services.
If the supply is intra-state or within the territory of a single state then you will be charged SGST
& CGST, but in case of inter-state supplies or movement of goods from one state to another state
then IGST will be applied on invoice. The GST is being charged only on the basis of different tax
slabs - 0%, 5%, 12%, 18%, 28%, etc. created by the government for collection of tax.
How is IGST calculated?
IGST is a combination of SGST and CGST which work with the concept of “one tax one nation”. Let’s
understand how the IGST levied-
For example IGST applicable on goods is 5%, in case of interstate transfer where goods sold from
bangalore to Jaipur then single tax will be applied named IGST, a trader in Jaipur will pay the IGST
and a trader in Bangalore will collect it and pay it to the government. The IGST will be collected
by the central government and will be distributed in state and center. The important point about
IGST is that only the importing state will get the final tax revenue.
How to calculate gst on total?
To calculate the GST on total use the below formula -
GST Amount = ( Original Cost * GST% ) / 100
Net Price = Original Cost + GST Amount
Example:-
Original cost = 100, GST% = 18
(100*18/100) = 18 (GST amount)
How do I calculate GST if GST is included?
Formula to calculate GST if GST is included in final cost:
GST Amount = Original Cost – (Original Cost * (100 / (100 + GST% ) ) )
Excluding GST amount = Original Cost – GST Amount
Example:-
Original cost = 420, GST% = 5
420 - (420*(100/ (100+5))) = 20 (GST amount)
420 -20 = Rs. 400 (this will be excluding GST amount)
Is GST calculated on profit?
No, GST is not being calculated on profit. GST is levied only on goods & services supplied or calculated on the revenue.
Who will pay GST buyer or seller?
Only consumers/ buyers have to pay the GST charged by the supplier in the supply chain. Sellers or suppliers are bound to collect the GST from buyers and pay it to the government so that the buyer can get the final tax revenue.
Who can use the GST calculator?
Anyone can use the GST inclusive calculator (India) to understand the breakup between the sale price and the GST tax involved in it. Everyone involved in a buy/sell transaction from manufacturer to seller can use a GST calculator to understand their GST liabilities.
How can a buyer use the GST calculator?
A buyer can use the GST calculator online on our website to know the taxes involved in their purchase order. They can add the amount paid in the online GST tax calculator and the tax slab in which the product/services are listed as per government norms. Once you feed the details to the calculator, you will get the details of the GST involved in the transaction.
How can a manufacturer/wholesaler use the GST calculator?
Manufacturers/wholesalers can calculate the applicable GST liability of their small business
using the GST formulae listed below. However, using an online GST inclusive calculator is a
much faster and simpler way to get details of these GST tax liabilities.
GST calculation formula:
1. GST is excluded: GST amount = (value of supply * GST%)/100. Price to be charged =
value of supply + GST amount.
2. Where GST is included in the value of supply: GST amount = value of supply – [value of
supply x {100/(100+GST%)}]
How to calculate GST in case of reverse charge?
Usually, GST is collected by the person selling the goods and services to a buyer. However, GST is collected by the buyer and not the seller in some cases. In those cases, Reverse Charge Mechanism or RCM is applicable. You can make the reverse charge calculator get GST tax liabilities for your small business online.
Who decides rates to impose GST?
The GST Council of India decides GST rates and all their provisions. The council comprises 33 members, including the Finance Ministers of the state. The Union Finance Minister heads the Council meeting. The whole body works under the framework decided in the budget.
What is the need for dual GST?
As India is a federal country, both centre and state governments can levy taxes after approval through legal legislation methods. So, a dual GST is the constitutional requirement of fiscal federalism, and thus it is required by law.
How do you calculate GST from a total?
To calculate the GST included in a company's receipts, divide the receipts by one + the tax rate. For example, if the tax rate is 5%, divide the total receipts by 1.05. If the tax rate is 8%, divide the total receipts by 1.08. To make the calculations easier, you can reach out to me to know more.
How do you calculate GST refund?
At first, calculate the GST liability of your small business in the given time frame for which you had paid detectors. Now, subtract the GST tax refund made to the government. So, your total liabilities are GST paid to the government subtracted to GST paid beforehand. You can use our online GST inclusive calculator India to make the whole process seamless.
How to calculate GST on MRP in India?
To get an estimate of GST applicable on the MRP of a product, you can use a reverse charge calculation method. You can use our online GST calculator and feed it with MRP and applicable GST rates. It will make the process seamless for your business.
How to calculate GST in Excel?
You can calculate GST using Excel format using any GST calculation methods. You can make the process seamless by using our online inclusive calculator India.