GST Free Online Calculator – All You Need To Know

GST is categorized as five independent tax levies for tax collection – 0 percent, 5 percent, 12 percent, 18 percent, and 28 percent. Before GST there was a huge ambiguity about the applicable tax rates for different products, but GST introduced HSN code (4-8 digit code) which helps to calculate the applicable GST rate for different products. The country is divided into two halves, one is the state where your business is located and the other half is made up of the other states of India.

GST, which refers to Goods & Service Tax, is an indirect tax reform that aims fundamentally to abolish tax barriers between states and to create a common market that is open to all to buy, sell, import, and export across the country. It is designed exclusively and has within it a class that gives traders economic freedom. Before GST, there were more than 17 indirect taxes, but GST subsumed all of them and became a single indirect tax for the whole region, which led to the ‘ONE NATION ONE TAX’ scheme. Use our GST Free Online Calculator To Calculate Your GST Amount

How To Calculate GST?

We know of the five different slab rates that apply to different products. Now, let’s see, “How do you add these tax rates to the value of the commodity to measure the GST payable?”

Take, for this reason, an example:

Before I tell you, please grasp the following two terms:

I Taxable Amount (excluding GST)-The value on which GST relates, i.e. the value on which GST has not been charged and applied up to now, and we are entitled to charge GST on that number.

ii) Invoice Value (including GST)-The cumulative amount of the taxable value + the amount of the GST.

Mr. A, who lives in Aligarh bought a nice from a nearby dealer worth Rs. 100. Now Rs. 100 is the taxable amount, and we have to charge GST for that value. Suppose this commodity attracts 18 percent of GST. Thus the sum of GST = 100*18 percent = 18. As it is part of the state procurement, so

CGST=9 percent, i.e. Rs. 9 percent.

SGST=9 percent, i.e. Rs. 9 will apply.

Currently, if Mr. A had bought it outside C.G., it would have attracted IGST, i.e. a single tax of Rs.18. Accordingly, the overall amount that Mr. A will have to pay to the shopkeeper is Rs.100 + Rs.18 = Rs.118.

Reverse GST Estimation from Invoice Meaning

Suppose you bought a plastic bottle from the Rs.100 supermarket, including the GST valued at 18%. Now, if you want to measure the amount of GST you paid for it, use this formula –

[100 X (Tax Rate/100+Tax Rate))

In other words, GST= [100 x (18/118)] = Rs. 15.254

Taxable worth, i.e. value excluding GST = Rs.100-Rs.15.254 = Rs.84.745

How to use the GST Calculator

Since the above calculation procedure is a little bit complicated and frustrating, we’ve made it simple for you.

Measures to use this calculator –

First of all, pick the exclusive/inclusive GST as appropriate.

Please enter the original number.

Select the appropriate GST rate from the drop-down issued.

To get the results, click Measure GST.

GST Exclusive: because the sum is exclusive to GST, insert the taxable value here, i.e. the real price of the commodity without GST. It will send you the number of GST & POST-GST, i.e. after the inclusion of the GST.

GST Inclusive: because this number contains GST, insert the balance of the invoice here, i.e. the price of the goods after the inclusion of GST. It will send you the number of GST & PRE-GST, i.e. after deducting the GST.

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