Online GST Calculator : How GST is calculated

Worried about how much GST is to be added in your invoices? Is your price inclusive of GST and don’t know the GST amount and the taxable amount? Here is the solutions, The online GST calculator. It is ideal for GST calculation formula that works for GST taxes for Indian GST.

How GST calculator works?

Using this GST calculator you can calculate the taxable amount and the GST amount. It works both for inclusive of GST amount as well as exclusive GST amount. You can mention your Net amount and it has both ways to calculate the GST Taxable amount and the GST tax amount.

Inclusive of GST

If your amount is inclusive of GST then just click the inclusive GST option after entering your Net amount. Your GST taxable amount and the amount of GST Tax would be calculated.

the formula to calculate the GST tzx amount and Taxable Value is

Taxable Amount = Value Inclusive of GST X 100 / (100+GST Rate)

GST Amount =Value inclusive of GST X GST Rate / (100+GST Rate)

Exclusive of GST

If the GST rate is exclusive of your Net amount then by selecting exclusive of GST option you can calculate the GST tax amount and the GST Taxable value. The formula applied for exclusive of GST tax calculation is

GST Tax amount: Net  Amount * 100/GST Rate

What is Input GST and Output GST and how GST is calculated?

Input GST

The amount of GST paid on all the purchases is called input GST. suppose you have purchased a good for Rs. 1000 and the rate of GST is 5% on that, then that goods would cost your 1050/- The 50 rupees is the value of your input GST.

Output GST

The amount of tax you have collected on your sales is called output GST. If you have sold some goods or services at 2000/- and the rate of GST is 5%  then taxable value is Rs. 2000/- and the GST output tax is 100/- if that amount of Rs. 2000/- is inclusive of tax then taxable value is 1904.76/- and the GST amount is 95.24/-

How GST payable is calculated?

GST is a destination based tax. So we can say that GST payable is calculated as Output GST – Input GST but the method arriving at GST payable is little complex.

As we all know that there are three components of GST tax i.e. Central Tax (CGST), State Tax (SGST/UTGST) and Integrated tax (IGST). The total amount of input CGST, SGST and IGST is to be added and would be deducted from Total no of output CGST, SGST and IGST.

The amount of Input GST is also referred as input credit. The input credit is always adjust as head wise.

First we adjust IGST input credit. which is adjusted First against out IGST, then if remaining be adjusted against Output CGST and then if still remains then against Output SGST

After adjusting IGST CGST is adjusted. CGST input credit is adjusted against CGST and then IGST

After that SGST input credit is adjusted against SGST and then against IGST.