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GST Calculator


GST is an indirect tax which was introduced  to replace multiple indirect taxes such as VAT, excise duty, CST, etc., that were prevalent in India.All businesses previously registered under the other acts are required to get themselves registered under the GST laws in order  to file their GSTR monthly, quarterly or on an annual basis as applicable. 
 

However, mistakes in GST filing are very common, especially when there are multiple items with different GST rates. This is when having an online GST calculator can be very convenient. In this article, we will explain how you can use the GST calculator, its components, GST calculation formula, reverse charge of GST and much more.

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What is GST?

GST or Goods and Service Tax is an indirect tax uniformly levied by the Central Government all over India on all types of goods and services with regards to certain exceptions. It was launched by the Indian Government on 1st July 2017 to incorporate a single taxation system in the indirect tax segment. It is a comprehensive, multi-stage, destination-based tax which is levied on every value addition.
 

GST replaced most indirect taxes such as VAT, excise duty, CST etc. and brought the concept of a single indirect tax for individuals and organisations. It brought an end to the system of multiple taxation where tax on tax was levied.. This simplified and unified the tax regime of our country. 
 

Goods and Services Tax is levied on all the stages of a product or service starting from the manufacturing stage, continuing till the sales for the ultimate consumption of goods and services. Various types of organisations from small, and medium to large enterprises are required to register themselves under the Goods and Service Tax law and a GSTIN or GST Identification Number is issued.

What Are Different Tax Components Under GST?

Primarily there are three main components in GST, which are as follows:
 

  • CGST: CGST or Central Goods and Services Tax is the component of GST which is collected by the Central Government and is applicable for ‘intra-state’ transactions.

  • SGST: SGST or State Good and Service Tax is the component which is collected by state governments and just like CGST it is also applicable for ‘intra-state’ transactions.

  • IGST: IGST or Integrated Goods and Services Tax on the other hand is applicable for ‘interstate’ transactions.

What Is a GST Calculator?

GST calculator is an online tool that calculates the GST on a given amount by simply entering the price of the product and the applicable GST rate, thus arriving at the total tax payable. It also helps you to determine the total amount of GST payable each under the IGST, CGST and SGST heads.

Using the online calculator is very simple. Enter the total value of items with the same GST rate, select the GST rate and click on ‘Calculate’. The calculator will show the pre-GST and post-GST amounts. 

How Is GST Calculated?

Calculation of Goods and Service Tax is quite simple in nature, it can be calculated simply by multiplying the total taxable amount by the GST rate. In case it is an inter-state transfer, the applicable CGST and SGST components are divided into two equal parts. 

GST Calculation Formula

To calculate the formula, lets first understand the common terminologies used in the GST calculations:

Taxable Value: It is the actual cost of goods or services or both on which GST is charged. It is also known as GST Exclusive amount.

Invoice Value: It is the total of Taxable value + GST amount, also known as GST inclusive amount.

Example 1.

Ms. Amisha purchased goods from a local dealer worth Rs. 1,000 on which GST is applicable at the rate of 18%.

As it is a purchase within the state i.e Intra State, CGST & SGST would be applicable at the rate of 9% each.

Here, Taxable Value = Rs. 1,000/-

CGST = Rs. 1,000*9% = 90

SGST = Rs. 1,000*9% = 90

Total GST Amount = CGST +SGST = 90+90= Rs. 180/-

Invoice Value = Taxable Value + GST Value = Rs.1,000 + Rs.180 = Rs.1,180 

Example 2:

Ms. Amisha of Gujarat purchased goods from Mr. Taneja of Uttar Pradesh worth Rs. 1,000 on which GST is applicable at the rate of 18%.

As it is a purchase outside the state i.e Inter State, IGST would be applicable at the rate of 18%.

Here, Taxable Value = Rs. 1,000/-

IGST = Rs. 1,000*18% =Rs.180 

Total GST Amount = IGST Value = Rs. 180/-

Invoice Value = Taxable Value + GST Value = Rs.1,000 + Rs.180 = Rs.1,180

A GST calculator online is based on a mathematical formula which is as follows:

GST = Taxable amount x GST rate

Important Note: 

Method of calculating the GST amount remains the same where goods or services are traded between states. i.e.  supply of goods or services or both between states. Here, IGST would be applicable at the respective GST tax rate.

Advantages of Online GST Calculators

An online GST calculator enables you to obtain the GST value including price based on the applicable GST rate. It helps you to get the bifurcated CGST and SGST or calculate the IGST from the total GST amount. It removes the hassle of manual calculation and removes the chances of arithmetic errors saving time and energy by showing instant results.

Examples of Understanding GST Calculation

Let us understand the GST calculation in detail while comparing the same with pre-GST indirect tax norms.

Particulars

Rate (%)

Amount

Invoice value

12%

100,000

GST

12,000

Price to be charged on Invoice

112,000


GST Calculation by Manufacturers:

Particulars

Tax Rate (%)

Pre-GST Regime  calculation

Post GST Regime Calculation

Cost of Product

–

200,000

200,000

Profit

10.00%

20,000

20,000

Excise Duty

12.50%

27,500

Nil

Total

–

247,500

220,000

VAT

12.50%

30,938

Nil

CGST

6%

Nil

13,200

SGST

6%

Nil

13,200

Final Invoice to Wholesaler

–

278,438

246,400


GST Calculations by Wholesalers & Retailers:

Particulars

Rate (%)

Amount Pre-GST

Amount under GST

Cost of the product

–

278,438

246,400

Profit

10%

27,844

24,640

Total

–

306,282

271,040

VAT

12.50%

7,347

Nil

CGST

6%

Nil

3,062

SGST

6%

Nil

3,062

Final Invoice to end-consumer

–

313,629

277,164

What are the rates of GST in India?

Listed below are the applicable GST percentages in India:

  • No GST is applicable on necessary items like wheat, milk, flour etc.

  • 0.25% GST is applicable on rough diamonds

  • 3% GST on gold, silver and other precious metals.

  • 5% GST 

  • 12% GST

  • 18% GST

  • 28% GST

What Is the GST Inclusive Amount?

It is the amount which includes the sale price of goods or services along with the applicable GST amount in it.

What Is the GST Exclusive Amount?

It is the amount which refers to the sale price of goods and services which does not include the applicable amount of Goods and Service Tax.

How to Calculate GST Online in the Case of Reverse Charges?

In simple terms, the reverse charge of GST means the recipient of the goods and services is liable to make the GST payment instead of a supplier. Hence, the calculation in the case of reverse charge is also similar to normal GST calculation.

For instance, Mr X bought a product whose GST exclusive cost is Rs. 10,000 and the applicable GST rate is 18%. Hence Mr X (recipient of goods) has to pay Rs. 10,000 to the supplier/dealer and the GST amount of Rs. 1,800 has to be paid to the government by him.

Here it is the liability of recipient to pay tax instead of supplier.

How to use this GST calculator

Since the process of calculation of GST may be complex and confusing or even some times time consuming due to various reasons, we made it easy for you.

Steps for using this calculator –

  1. First, select GST exclusive/inclusive as per your need.

  2. Enter the original amount.

  3. Select your required GST rate from the drop down given.

  4. Select CALCULATE GST to get the results.

To sum up, Goods and Service Tax is an indirect tax introduced by the Indian Government that replaced multiple indirect taxes such as VAT, excise duty, CST, etc. A GST calculator can help you to instantly calculate the GST inclusive price in no time upon entering two inputs: GST exclusive price of a product or service and the applicable GST rate.

Frequently Asked Questions

1 What are the benefits of using an online GST calculator?

GST calculator can with no time upon receipt of proper inputs calculate the amount of tax payable accurately thus reducing the risk of arithmetic errors. With its easy-to-use features and fast results, our GST calculator is perfect for businesses that need to calculate GST on multiple transactions It removes the hassle of manual calculation,  and helps to determine accurate results instantly.

2 What is the GST calculator?

A GST calculator is an online tool which helps you to calculate the GST on a given amount  in no time by simply entering the GST rate and GST exclusive price.

3 Who can use the GST calculator?

Anyone can use a GST calculator whether it is a buyer, wholesaler or manufacturer. 

4 How can a buyer/manufacturer/ wholesaler use the GST calculator?

It is quite simple, one simply needs to enter two inputs: price before GST and the applicable GST rate. In no time, the calculator will show you the total GST with segregated CGST and SGST.

5 What are the benefits for the buyer if he uses the GST calculator?

It helps the buyer to calculate and determine the correct GST rate since the GST rate varies depending on the type of goods or services being purchased.


The calculator will also display the total amount to be paid, which includes the purchase amount and the GST amount.

6 What is the percentage of GST in India?

The applicable GST rates are different for different types of products. The GST rates start from 0.25%, 3%, 5%, 12%, 18% to a maximum of 28%.

7 What do GST returns entail?

GST return consists of detailed information about your purchases, sales, tax paid, tax collected etc. After filing the GST return, you will have to settle the net liability to the government.

8 Is GSTIN mandatory for business in India?

Yes, GSTIN is mandatory for businesses in India upon exceeding the basic threshold limit as prescribed. It is a 15-digit unique identification number which is assigned to every business registered under the GST network.

9 What are the 4 types of GST?

In India, the Goods and Services Tax (GST) consists of four types: 
 

1. Central Goods and Services Tax (CGST). 

2. State Goods and Services Tax (SGST), 

3. Integrated Goods and Services Tax (IGST), 

4. Union Territory Goods and Services Tax (UTGST)

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#Tax benefits & exemptions are subject to conditions of the Income Tax Act, 1961 and its provisions.

#Tax Laws are subject to change from time to time.

#Customer is requested to seek tax advice from his Chartered Accountant or personal tax advisor with respect to his personal tax liabilities under the Income-tax law.

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