• 0

How is GST calculated?

  • 0
How is GST calculated?

1 Answer

  1. The rate of GST is added to the base price/value of supply.
    GST Amount = Value X (GST Rate ÷ 100)
    Total value of goods or services including GST = Value + GST Amount
    For example:
    Assume product X has a value of INR 100, and the GST rate applicable product on X is 18%.
    Amount of GST = 100 X (18 ÷ 100) = INR 18
    Total value of product X including GST = 100 + 18 = 118 INR.
    So, according to the above calculations, the GST amount on Product X will be INR 18, and the net value will be INR 118.

    You can use the freely available GST calculator as well.
    In order to calculate GST using this online GST Calculator, the taxpayer must have the information regarding the GST rate or HSN/SAC Code applicable to those particular goods and services.

    • 0

Leave an answer

You must login to add an answer.