GST Calculator
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Exclusive
- Within same state
- Within same UT
- Between one state and other state
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- Between one UT and other UT
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Gofrugal GST calculator requires four inputs to perform the GST calculations -
After all the inputs are provided, the GST amount and its breakup will be automatically calculated by the GST calculator software tool.
Calculate GST with GofrugalGovernment of India introduced Goods & Service Tax (GST) with effect from 1st July 2017 under the theory of "One Nation, One Tax" to achieve the principal objective of eliminating the cascading effect of taxes. Various indirect taxes happening at multiple stages of the supply chain like the Value Added Tax (VAT), Service Tax, Central Sales tax (CST), Excise Duty, Octroi were subsumed into one as GST.
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The government collects GST in four forms based on the incidence of taxation, also called the Place of supply or Destination based taxation system.
Central GST (CGST) - Central Government's 50% share of GST is charged on Intra-state or Intra-UT transactions that are sale transactions within the same state or the same Union Territory. State GST
State GST (SGST) - State Government's 50% share of GST is charged on Intra-state transactions, that is, sales transactions within the same state.
Union Territory GST (UTGST) - Union Territory Government's 50% share of the GST charged on Intra-UT transactions, which are sales transactions within the same Union Territory. As per the recent GST Council pronouncements, the following 5 regions are considered Union Territories under the purview of GST.
Integrated GST (IGST) - Central Government charges IGST on Inter-State, Inter-UT, import, and export transactions that are sale transactions across states and/or union territories or across countries.
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The GST Council of India has broadly categorized all goods & services into five tax slabs, namely 3%, 5%, 12%, 18%, and 28%. In addition, there is a 0% rate (nil-rated supplies) for essential goods like salt, jaggery, and cereals. Some of the items are exempt under the GST law (exempt supplies) like fruits & vegetables, and some of the items do not come within the purview of the GST (non-GST supplies) like petrol, diesel, and alcohol.
Exports and Special Economic Zone (SEZ) supplies are treated as zero-rated supplies. Also, for some items like tobacco, cigarettes, and pan masala, an additional levy called the GST compensation cess is charged besides the regular charge.
Experience with pre-defined ratesThe government's simple GST taxation policy has made it significantly simpler to calculate the necessary taxes. Based on whether the transaction is intra-state or interstate, it is now possible to determine the GST rates that apply to the various goods or services. To calculate GST, we can utilise formulas and a GST calculator.
Inclusive method means the price determined includes the GST amount also, such that the final net price to the customer is fixed and the base value or taxable value on GST calculation has to be made. Base value or taxable value is arrived based on the reverse/back working method.
Exclusive method means the base value or taxable value of the supply is first determined which does not include the GST amount in it. GST is calculated on this base value or taxable value and the final net price is arrived at by adding the GST amount to the base value or taxable value.
The taxpayer can use the following formula to calculate GST for retail shops and other businesses. The formula below can be used to calculate a product's net price after applying GST and removing GST as well.
In the Exclusive method, GST calculation formula is as follows:GST amount= Value of the supply x GST rate / 100Net price= Value of the supply + GST amount The Value of the supply is also called the base value or taxable value or assessable value
If Value of supply is ₹ 1000 and GST rate is 5%, thenGST amount= 1000 x 5 / 100 = ₹ 50Net price= 1000 + 50 = ₹ 1050
In the Inclusive method, GST calculation formula is as follows:GST amount= Net price x GST rate / (100+GST rate)Value of the supply= Net price - GST amount The Value of the supply is also called the base value or taxable value or assessable value
Net price is the GST Inclusive price fixed for the product or service
If Net price is ₹ 1000 and GST rate is 5%, thenGST amount= 1000 x 5 / (100+5) = 1000 x 5/105 = ₹ 47.62Value of the supply= 1000 - 47.62 = ₹ 952.38
Conversely, to prove the above values in Exclusive methodGST amount952.38 x 5 / 100 = ₹ 47.62Net price952.38 + 47.62 = ₹ 1000
To calculate GST, one must know the
The retailer can calculate GST by first determining the selling price of the supply in accordance with the valuation rules under GST law.
All goods and services are commonly categorized under a unified tax system using a Harmonized System Nomenclature (HSN) code or a Servicing Accounting Code (SAC) for goods or services, respectively. The GST Tariff table specifies the GST rate for each HSN/SAC code.
The retailer has to ascertain the HSN/SAC under which product/service supply has to be classified. Once that is finalized, then its corresponding GST rate can be easily identified.
Identify the from state and to the state between which product/service is supplied. If both states are the same, then the transaction becomes an Intra-state supply, and if they are different, then the transaction becomes an Inter-state supply. CGST & SGST would apply to Intra-state supplies, and IGST would apply to Inter-state supplies. Hence, determining the type of supply (inter-state or Intra-state) would help in deciding the type of GST(s) that would be applicable to the particular transaction.
Select whether GST is to be calculated using the Inclusive method or the Exclusive method. According to the method of GST calculation, the formula will vary.
As explained above, the types of GST, CGST, and SGST would apply to Intra-state transactions with an equal share to the Central and State governments. In the case of Intra-UT transactions, CGST and UTGST would apply with an equal share to the Central and UT governments.CGST rate= GST rate / 2SGST or UTGST rate= GST rate / 2
CGST amount= Value of the supply x CGST rate / 100SGST or UTGST amount= Value of the supply x SGST or UTGST rate / 100
Net price= Value of the supply + CGST amount + SGST or UTGST amount
If Value of supply is ₹ 1000, GST rate is 5% and a transaction happens within the state of Maharashtra, thenCGST rate= 5% / 2 = 2.5%SGST rate= 5% / 2 = 2.5%CGST amount= 1000 x 2.5 / 100 = ₹ 25SGST amount= 1000 x 2.5 / 100 = ₹ 25Net price= 1000 + 25 + 25 = ₹ 1050
If the above sale transaction happens within the UT of Chandigarh, thenCGST rate= 5% / 2 = 2.5%SGST rate= 5% / 2 = 2.5%CGST amount= 1000 x 2.5 / 100 = ₹ 25SGST amount= 1000 x 2.5 / 100 = ₹ 25Net price= 1000 + 25 + 25 = ₹ 1050
In the case of Inter-State or Inter-UT, IGST would apply at the applicable GST rateIGST rate= GST rateIGST amount= Value of the supply x IGST rate/ 100Net price= Value of the supply + IGST amount
If the value of supply is ₹ 1000, GST rate is 5% and transactions happening between
then IGST would apply in all above scenarios, with IGST rate = 5%GST amount= 1000 x 5 / 100 = ₹ 50Net price= 1000 + 50 = ₹ 1050
Automate your GST classification
Any business whose turnover exceeds INR 40 lacs in a financial year is liable to get registered under the GST laws, collect, remit, and file the necessary GST returns as prescribed from time to time. This 40 lac limit is, however, for a supplier of goods, and for a service provider, the said limit is 20 lacs.
There are also some special category states like Arunachal Pradesh, Assam, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, and Uttarakhand, wherein the said limit is 20 lacs and 10 lacs for suppliers of goods and service providers, respectively. There is also a composition scheme providing a concessional rate of GST for businesses having turnover not exceeding 1.5 crores in a financial year on the satisfaction of specific conditions.
Talk to our regional GST expertsGST calculator simplifies the GST calculations such that it eliminates the manual effort, thereby producing error-free calculations
Users can play around with the GST calculator tool with multiple combinations of GST rates, types, or methods for any given value of the transaction
Pre-tax, GST tax breakups, and post-tax values can be calculated in one shot and viewed at a glance
Gofrugal's GST software helps you to operate your business efficiently with minimal staff and the least skills.