GST Calculator

A GST calculator can save you time and hassle by doing the GST calculation for you quickly and accurately.

Examples of GST Rates

Category

GST Rate

Essential items (Fresh Milk, Curd)

0%

Rough diamonds

0.25%

Gold & Silver

3%

Sugar, Tea & Milk food for babies

5%

Real estate (under construction)

12%

Common use goods (soaps, oils)

18%

Electronics & furniture

18%

Services (telecom)

18%

tobacco (Unmanufactured)

28%

Explore complete list of GST Rates Here: GST rates in India - Everything you need to know

About GST calculator

A Goods and Service Tax Calculator is a ready-to-use online tool that helps you figure out how much GST you owe for a month or quarter, depending on the goods. The GST calculator is good for people who buy, sell, and conduct various kinds of business. Using a simplified Goods and Service Tax Calculator online helps you figure out the gross or net price of a product depending on the amount and gives you a breakdown of the percentage-based GST rates. It helps divide the rate between the central goods and services tax (CGST) and the state goods and services tax (SGST) or figure out the correct IGST.

How to use GST Calculator?

At Bajaj Finance, we provide taxpayers with a dedicated and professional GST Calculator tool. This tool simplifies GST calculation, especially for taxpayers dealing with differential GST rates.

Step-by-Step guide for using GST calculator to calculate GST amount online

Follow these steps to calculate GST Amount:

Choose customer type: Determine whether you are a buyer or a manufacturer and wholesaler/retailer.

If you are a buyer:

(Buyers can be Consumers, Businesses, Government Agencies, Distributors, Importers etc.)

  1. Add net price: Input the net price of the item in the designated section.
  2. Input GST percentage: Enter the applicable GST percentage in the corresponding section.

If you are a manufacturer and wholesaler/retailer:

Manufacturers and wholesalers/retailers can be an automobile manufacturer, pharmaceutical manufacturer, food wholesaler, electronics wholesaler, online retailer, sporting goods retailer etc.

  1. Enter cost of production: Input the Cost of Production in Rupees.
  2. Enter profit ratio (%): Input the Profit Ratio percentage.
  3. Enter GST percentage: Input the applicable GST percentage.

View GST calculation details:

After completing the above steps, you will find the following GST calculation details displayed in the right bar:

  • Total price
  • Total tax/IGST amount
  • CGST amount
  • SGST/UTGST amount

By following these steps, you can accurately calculate the GST amount online based on your specific role as a buyer or a manufacturer and wholesaler/retailer.

Advantages of GST Calculator

Here's why utilizing an online GST calculator can be advantageous:

Ease of use and time-saving: Online GST calculators offer simplicity and speed, delivering instant results without the need for manual computations, thus saving time.

Accuracy: These calculators minimize the chances of errors inherent in manual calculations, ensuring precise results.

Breakdown of tax components: Taxpayers can accurately determine individual amounts for CGST, SGST, and IGST, which can be challenging to calculate manually using the GST tax formula.

Estimation of gross price: Users can also estimate the gross price for their chosen items, providing a comprehensive understanding of their tax obligations.

Once taxpayers have grasped their tax liabilities and have all the necessary details regarding their GST-related transactions, it's essential to file GST return within the stipulated due dates. Failure to comply with these regulations may result in additional charges.

How does the GST calculator work?

The GST Calculator operates based on a straightforward formula:

GST Amount = (Selling Price x GST Rate) / 100.

Here, the Selling Price is determined by adding the Cost Price and Profit Amount. The calculator factors in the Selling Price, representing the total value of goods or services subject to GST, and the GST rate, which fluctuates based on the nature of the goods or services.

The Total Selling Price is then computed by adding the Selling Price, GST Amount, and, if applicable, Cess Amount.

How can a GST calculator help you?

A GST calculator can help you in many ways, such as:

  • Calculate the GST amount and the net price of goods and services based on the GST rate and the original price. This can save you time and hassle by doing the GST calculation for you quickly and accurately.
  • Understand the GST structure and rates better and plan your budget accordingly. You can choose from different GST rates and categories, such as CGST, SGST, IGST, and UTGST, and see how they affect the GST amount and the net price.
  • It can help you to comply with the GST rules and regulations and avoid any penalties or fines. You can use the GST calculator to check the GST amount and the net price of your invoices, bills, receipts, and other transactions and ensure that they are correct and consistent.

What is GST (Goods and Services Tax)?

Goods and Services Tax or GST is a dynamic taxation system that is implemented in India. It simplifies and unifies the indirect taxation across the country through a comprehensive tax structure that includes goods and services under a singular tax slab. GST is designed to replace all indirect taxes and aims to remove tax barriers that existed between states. It has helped in enhancing the ease of doing business and creating a level playing field for businesses across the country. With the implementation of GST, businesses can avail numerous benefits such as better compliance, a significant reduction in tax evasion, and streamlined tax procedures. It has also helped to increase transparency and boost economic growth. Therefore, if you are looking for an unsecured business loan, then knowledge of GST is critical for a successful loan application process.

What is the GST inclusive amount?

The GST inclusive amount is the total cost of goods or services that includes the Goods and Services Tax (GST) in India. Understanding the GST inclusive amount allows you to plan their finances accurately by factoring in the additional cost of GST. By taking this approach, you can make informed financial decisions and avoid unnecessary financial burden.

What is the GST exclusive amount?

The GST exclusive amount refers to the cost of goods or services without the inclusion of the Goods and Services Tax (GST) in India. It is important for you to understand the GST exclusive amount when making purchases to accurately calculate the total expenditure.

What is GSTIN?

GSTIN stands for Goods and Services Tax Identification Number. It is a unique 15-digit alphanumeric code assigned to every person or entity that is registered under the Goods and Services Tax (GST) regime in India. The GSTIN is based on the PAN (Permanent Account Number) of the taxpayer and contains information such as the state code, registration number, entity code, checksum digit, and defaulting status.

The GSTIN is used for various GST-related procedures, such as filing returns, claiming input tax credits, and making payments. The GSTIN verification can be done online on the official GST portal. The GSTIN helps to ensure transparency and compliance in the GST system and prevent tax evasion.

Tax components under GST

There are 4 components of GST:

Central Goods and Services Tax (CGST): Under GST, intra-state transactions are subject to the Central Goods and Services Tax (CGST), an indirect tax.

State Goods and Services Tax (SGST): Intra-state transactions related to the supply of goods and services are subject to this tax. Each respective state government is responsible for collecting this.

Union Territory Goods and Services Tax (UTGST): This is an indirect tax levied on the intra-state supplies of goods and services.

Integrated Goods and Services Tax (IGST): This is a separate tax included under GST. Imports and exports as well as interstate sales of goods and services are subject to this tax. The central government administers and collects the IGST in accordance with the IGST Act. It then divides the accrued tax among the various states involved in the sales.

How do you calculate GST?

GST calculation formula

To calculate GST, taxpayers can use simple formulas.

  • To include GST in the base amount:

GST = (Original Cost * GST rate) / 100
Base amount with GST = Original Cost + GST

For example: Original cost is Rs. 1000 and GST rate is 10%
GST = (1000 * 10) / 100 = 100

Base amount with GST = 1000 + 100 = 1100

  • To exclude GST from the base amount:

Base amount without GST = Base amount with GST / (1+ GST rate /100)

For example: Base amount with GST is Rs. 1100 and GST rate is 10

Base amount without GST = 1100 / (1+10 / 100) = 1000

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Disclaimer

The data generated herein is completely and solely based on the information/ details provided by you in response to the questions specified by Bajaj Finserv Limited. These questions and the calculations thereon resulting in specific data are developed and based on certain tools and calculators that are made available to Bajaj Finserv Limited and are based on predetermined presumptions/ assumptions. Such information and the resultant data are provided only for user's convenience and information purposes.

Frequently asked questions

What is the percentage of GST in India?

The percentage of GST in India varies depending on the type of goods or service. There are four tax brackets, namely 5%, 12%, 18%, and 28%.

What are the benefits of using an online GST calculator?

The online GST calculator lets you figure out either the gross or net price of a product based on the GST rate as a percentage. It saves time and makes it less likely that a person will make a mistake when figuring out the total cost of goods and services.

How to calculate GST using a GST calculator?

You can easily use the online GST calculator by doing the following:

  • Enter the net price of a service or goods and the GST slabs, such as 5%, 12%, 18%, and 28%.
  • Click on the "Calculate" button to see the final or gross price of goods and services.

GST calculation formula:

The calculator uses the below-mentioned formula to make it easy for businesses, manufacturers, wholesalers, and retailers to figure out GST:

Simple GST calculation

  • Add GST:
    GST amount = (Original cost x GST%)/100
    Net price = original cost + GST amount
  • Remove GST:
    GST amount = Original cost - [Original cost x {100/(100+GST%)}]
    Net price = Original cost - GST amount

 

Rate (%)

Original cost of goods

 

GST

18%

Cost of goods sold

 

GST calculation for manufacturers:

 

Rate (%)

Pre- GST

Cost of product

 

10000

Excise duty

12%

1200

Profit

10%

1000

TOTAL

 

12200

VAT

12.50%

1525

CGST

6%

Nil

SGST

6%

Nil

Final invoice to the wholesaler

 

13725

At a cost of Rs.10,000, the manufacturer saves Rs.1405, which is equivalent to a 14% tax savings. This lowers costs for manufacturers, and the savings are eventually passed on to wholesalers, retailers, and consumers.

GST calculation for wholesalers and retailers:

 

Rate (%)

Pre- GST

Cost of product

 

13725

Profit

10%

1373

TOTAL

 

15098

VAT

12.50%

1887

CGST

6%

Nil

SGST

6%

Nil

Final invoice to the consumer

 

16985

GST brings down the price of a product, so consumers pay less for goods even though wholesalers and retailers make the same amount of profit.

How to calculate GST in case of reverse charge?

Calculating a reverse charge is not very different from figuring out GST. A reverse charge is when the person who buys the goods has to pay the GST instead of the person who sells them. In both situations, the tax is the same. For example, if you bought items worth Rs. 10,000. At 18%, the GST to be paid will be Rs. 1,800. If CGST and SGST are charged, each will cost Rs. 900. The only difference is that in a reverse charge, the tax amount, which in this case is Rs. 1,800, is due by the recipient.

What is a GST calculator?

A GST calculator is a tool used to determine the Goods and Services Tax (GST) amount payable on a transaction. By inputting the cost and applicable GST rate, the calculator computes the GST amount, aiding in accurate tax calculations for businesses and individuals.

Who can use the GST calculator?

Anyone, from small business owners to individuals, can utilise the GST calculator. It is a handy tool for accurately determining Goods and Services Tax liabilities, ensuring compliance and effective financial planning. Any buyer, manufacturer, wholesaler or retailer can use the calculator by following 2 simple steps:

  • Type in the net price of your service or product and the GST tax slabs that apply, such as 5%, 12%, 18%, or 28%.
  • Click "Calculate" to see the final or gross price of goods and services, and the tax owed.
How do you calculate 18% GST on the total?

To calculate 18% GST on the total, you simply multiply the total amount by 18% (or 0.18). For example, if the total amount is Rs. 1000, the GST amount would be Rs. 180 (1000 x 0.18).

How do I calculate my GST?

To calculate GST on your total sales, you need to first determine the GST rate applicable to your product or service. Once you know the applicable rate, you can multiply the value of your sales by the GST rate to calculate the GST amount.

How do I calculate GST on my bill?

To calculate GST on your bill, you need to first determine the GST rate applicable to the item(s) on your bill. Once you know the applicable rate, you can multiply the value of the item(s) by the GST rate to calculate the GST amount, and then add it to the total to get the final amount payable.

How can a buyer use the GST calculator?

Input the net price before GST and specify the GST rate. The tool will then compute the total production cost, CGST, SGST, and overall tax amount.

How can a manufacturer / wholesaler use the GST calculator?

Input the production cost or cost of goods, profit ratio percentage, and GST rate. The tool will then display the total production cost, along with CGST, SGST, and the overall tax amount.

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