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A GST calculator can help an individual determine the gross or net price of the product after accounting for the GST, which must be expressed in percentages. It has proven to save a lot of time for the parties involved and reduces the chances of human error while simultaneously computing the overall GST on goods and services.

Calculate Your GST Amount Online in India

Net Price
GST
%
Gross price
GST Calculator
Gross price
CGST Amount
IGST Amount
Total Tax
Cost of Production
Profit Ratio
%
GST
%
Total Production Cost
GST Calculator
Total Production Cost
CGST Amount
IGST Amount
Total Tax
Cost of Goods
Profit Ratio
%
GST
%
Total Production Cost
GST Calculator
Total Production Cost
CGST Amount
IGST Amount
Total Tax

How is GST calculated?

With the unified taxation system, it is now possible for taxpayers to know the tax levied at different points for various goods and services under the GST regime. For GST calculation, the taxpayers can learn about different GST rates applicable on different categories that fall under the new tax structure. The different applicable GST slabs are: 5%, 12%, 18%, and 28%.

GST calculation can be explained by a simple illustration given below

 

Let’s assume that a product is sold at ₹1,000 and the applicable GST slab is 18%.

 

Then, the net price of the product becomes, 

 

₹1,000 + (1,000x(18/100)) = ₹1,000+180 = ₹1,180

GST Calculation Formula

The following GST calculation formula enables businesses, manufacturers, wholesalers, and retailers to conveniently calculate the net price of the product after applying the GST.

  • Simple GST Calculation

Add GST: GST Amount = (Original cost x GST%)/100

Net price = original cost + GST amount

  • In order to remove the GST

GST amount = Original cost - [Original cost x {100/(100+GST%)}] 

Ergo, Net price = Original cost - GST amount

The following tables demonstrate the manner in which goods and services were taxed in the pre- as well as the post-GST era for manufacturers, wholesalers, and businesses alike.

 

Rate (%)

Amount

Original cost of goods

 

₹3,00,000

Applicable GST percentage

18%

₹54,000

Final Cost of goods sold (COGS)

 

₹3,54,000

1. Calculation of GST for Manufacturers

 

Rate (%)

Pre- GST

Post- GST

Original Cost of product

 

₹40,000

₹40,000

Excise duty

12%

₹4,800

Nil

Profit

10%

₹4,000

₹4,000

Total

 

₹48,800

₹44,000

VAT

12.50%

₹6,100

Nil

CGST

6%

Nil

₹2,640

SGST

6%

Nil

₹2,640

Final invoice to the wholesaler

 

₹54,900

₹49,280

2. Calculation of GST for Wholesalers and Retailers

 

Rate (%)

Pre- GST

Post- GST

Cost of product

 

₹54,900

₹49280

Profit

10%

₹5,492

₹4,928

TOTAL

 

₹60,392

₹54,208

VAT

12.50%

₹7,548

Nil

CGST

6%

Nil

₹3,252

SGST

6%

Nil

₹3,252

Final invoice to the consumer

 

₹67,970

₹60,712

How to use GST Calculation Tool?

With a professional GST calculator, anyone can easily calculate their GST. Even taxpayers who wish to calculate GST with the differential GST rate can use the tool. Given below are the steps to follow when calculating GST with the help of a GST calculation tool:

  • Step 1: Select ‘GST Inclusive/GST Exclusive’ as per the requirement.

  • Step 2: Enter the original amount.

  • Step 3: Select the GST rate from the drop-down menu list.

  • Step 4: Hit ‘Calculate’ to check the results. 

 

The result will display the total GST amount and pre-and post-GST amount as per your requirement.

 

Overall, the GST calculation process demonstrates how easy the calculation of the tax liabilities has become since the implementation of the regime in question. Additionally, you can see how one is now paying much lesser tax over the goods and services that manufacturers provide. The same is the courtesy of the subsumption of the various indirect taxes, which also made the calculation of the overall tax liabilities tricky for the parties involved. You can now compute the total GST that you are liable to pay fairly swiftly through the GST calculator tool available on Bajaj Markets!

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FAQs

What is a GST calculator?

An online GST calculator is a tool that can be used to calculate the GST amount that is to be paid. However, one should know the rate under which the products and services are to be taxed (0%, 5%, 12%, 18%, or 28%).

Who can use the GST calculator?

The GST calculator can be used by a buyer, manufacturer, wholesaler, or retailer.

How can a buyer use the GST calculator?

The buyer needs to fill in the net price before GST and then enter the rate of GST. The total cost of production, CGST, SGST, and total tax will be calculated.

How can a manufacturer/wholesaler use the GST calculator?

For this, the manufacturer/wholesaler has to enter the cost of production/cost of goods, profit ratio percentage, and GST rate. This will display the total cost of production, CGST, SGST, and total tax.

What are the benefits of the GST calculator?

The online GST calculator is time-saving and reduces the chances of errors that can happen when tax is calculated manually.

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