GST Calculator 2024

What is GST?

GST the acronym of Goods and Service Tax is an indirect tax levied by the Indian Government on the supply of goods and services in India. It is a comprehensive, multi-staged tax that is levied at every point of the supply chain, from manufacturer to the consumer. GST has replaced a multitude of taxes levied by the central and state government earlier. The purpose of implementing GST is to simplify tax structure and bring about a unified tax market

Every company operating in India has to register for GST and they are mandatorily required to have a GSTIN number. Customers have to purchase their products after paying the GST. As such, it is important that you understand the computation of GST. You may require the assistance of GST Calculator to compute the same

What is GST Calculator?

It’s always good to know how much tax you are paying for the product that you use. A GST calculator helps you compute the accurate amount of tax you are paying for each good that you consume. It simplifies the GST calculation and saves you a lot of time. Moreover, since it is automated, there is less chance for any fraudulent activity

What is the Formula for GST calculator?

Formula for GST Calculation with Example

The basic formula for GST calculation is:

GST Amount = Original Cost × GST Rate100

 Example:

If a product costs ₹5,000 and the GST rate is 18%, the GST amount will be:

GST Amount=5×18/100=₹90

Thus, the total price including GST would be ₹590 (500+90)

Benefits of GST Calculator

• Accurate Calculation: Ensures accurate calculation of GST, reducing the chances of errors
• Time-Saving: Automates the calculation process, saving loads of time for businesses of all sizes
• Ease of Use: Easy to use interface that helps calculating the GST a simple process
• Transparency: It is completely transparent and shows the tax break up

FAQ on GST calculator

1. Can I use the GST calculator for different GST rates?

Yes, you can use our GST calculator allow you to input different GST rates, such as 5%, 12%, 18%, or 28%, all these rates are pre-loaded in the interest column, where you will have to select the applicable rate and the calculator will give the results

2. Is the calculator updated with the regulated rates?

Yes, our GST calculators are updated with regulated rates.

3. Can I use the calculator for both B2B (business-to-business) and B2C (business-to-consumer) transactions?

You can use our GST calculation for both B2B and B2C transactions as the fundamental calculation remains the same for both

3. How accurate are the calculations provided by the calculator?

The GST calculator uses standard formula for calculating and provides the result based on your input. However, it’s always a good idea to cross-check the calculations with the GST rules and regulations.

4. Can I use the calculator used for transactions involving import and export
GST calculators are specifically designed for domestic transactions. For transactions that involve import and export, you may need to use specified calculators