GST Calculator

The GST calculator is a tool that enables users to simplify complex calculations, GST Calculator helps small and large organizations or business firms to cut down the time and effort of manual calculations and make them seamless & precise. Online GST calculator automatically completes the calculations by inputting the correct information to get accurate results. It works on two features: Addition of the GST and Removal of the GST. Let’s check some more insights about the GST Calculator.

What is GST

GST stands for ‘Goods and Services Tax’, introduced on 1st July 2017. It replaced many indirect state and central taxes to bring a uniform system throughout India. It enhances regulations and simplifies the taxation process. GST is generally imposed on each supply chain step or sale. It has decreased the cost of goods and boosted their demand which benefits both central and state governments.

Every organization be it big or small operating in India is required to have registered with GST policy and hold a  GST Identification number. However, for a business firm, it can be very daunting to calculate the GST for every good or service. That’s where the need for a GST online calculator emerges to find out the GST amount on our own. For more information, you can visit the official website of GST tax and its implementation.

Different types of GST 

GST is further categorized into 4 types that are as follows:

State Goods and Services Tax (SGST): The Tax comes under the SGST Act. This tax is charged by the state government on the intra-state supply of goods and services. The state is in charge of taking the revenue generated by tax.

State Taxes replaced by GST:

1. Entry Tax.
2. State VAT.
3. Purchase Tax.
4. Entertainment Tax.
5. State cess and surcharges.
6. Luxury Tax.

Central Goods and Services Tax (CGST): CGST tax comes under the CGST Act. This tax is imposed by the central government for the intra-state supply of goods and services and the Centre is accountable for taking the revenue produced by tax. 

Central Taxes replaced by GST:

1. Service tax
2. Central excise duties.
3. Cess and surcharge.
4. Duties of excise.
5. Additional duty of customs.
6. Additional duties of excise.

Union Territory Goods and Service Tax (UTGST): This tax is applicable on the supply of Goods and services that happen in Union Territories of India. It is collected by the Government of Union Territory.

Integrated Goods and Services Tax (IGST): IGST is for inter-state transactions of goods and services and applicable to imports and exports. Both the Centre and State have access to the revenue collected by tax per the GST bill.

How to Calculate GST

To calculate the GST one needs to be aware of the different GST tax slabs as taxes are applied on products and services at different phases of the manufacturing cycle. In India, existing GST slabs are set at 5%, 12%, 18% and 28% for major goods and services.

To add GST to the base amount,

GST amount = (Actual Cost × GST%) / 100

Net Price = Actual Cost + GST amount

To deduct GST from the base amount,

GST Amount = Actual Cost - [Actual Cost × (100/ (100 + GST% )] 

Net Price = Original Cost - GST Amount

To understand the above demonstration let’s consider a product is in the 12% GST slab:

How to use Retire with Rohit GST Calculator

Using Retire with Rohit GST calculator is such a hassle-free and easy tool that provides accurate results. Now calculating GST is a part of the curriculum for taxpayers and small business owners to a regular person as everything we consume or purchase comes under either goods or services so to make this process quick and convenient our calculator comes to the rescue.

Before we step up on the steps to learn how to use our calculator users should be aware of few terms that include Adding GST amount or Removing GST amount i.e.-

GST Inclusive Amount:

As the name says GST Inclusive amount means the total value of the product after including the GST charges.

GST Exclusive Amount:  

It refers to the value of a product after deducting the GST amount or product without GST being included in it.

Steps to acquire the results using Retire with Rohit Calculator:

• Go to Retire with Rohit GST calculator.
• Choose the option of GST inclusive amount or GST exclusive amount as per the type of GST calculation you want.
• Enter the base amount of the product you can change the value by dragging the slider or can manually enter the amount.
• Now put GST rate percentage and your results will automatically start reflecting as the Total amount and GST amount.

Advantages of Using a GST Calculator

• It is a free calculator so anyone and everyone can access it anytime.
• It eliminates the probability of human error while doing complex calculations and results are precise and correct.
• Saves time by rapidly providing results and making the process swift.

Conclusion: 

I hope we can make our readers understand a GST calculator and how it works. GST revolutionized India's tax routine by being the umbrella tax policy which covers a lot of direct and indirect taxes underneath. However, before calculating the GST using our calculator one must have gone through the GST policies and how they work to have an idea about the different charges it covers. We have multiple calculators available to serve different purposes check out our calculators section for more information.

FAQ

1. How to calculate the 12% GST of the total amount?
   To calculate the 12% GST you just have to multiply the total amount by 12% or 0.12
   For eg: Consider the total amount as Rs. 1000 and 12% GST rate so the GST amount would be:
   1000 ✖ 0.12 = Rs. 120
2. What is the GST registration amount?
   GST registration doesn’t require any fees or charges it's free of cost. So the taxpayer doesn’t need to pay anything for the registration process.
3. How many Tax Slabs are there in India?
   There are 5 GST tax slabs in India that is 0%, 5%, 12%, 18%, and 28% where each good and service falls under one of these categories.
4. What is the GST Identification number?
   GST identification number or GSTIN is a 15-digit number that is provided to everyone who is registered under GST
5. Can we find the GST number from the PAN number?
   Yes, finding a GST number using a PAN number is possible. GSTIN is a PAN-based number for taxation purposes Visit the GST Portal and put your PAN details along with a captcha,  and registration details will appear after pressing the search option.