BUYER
MANUFACTURER
WHOLESALER / RETAILER
GST Calculator
Total Selling price will be
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Total Profit
0
Total GST
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What is GST?
GST is referred to as Goods and Service Tax. It is an indirect tax levied on the supply of goods and services. Moreover, it is similar to value-added tax and imposed at every level of the supply chain distribution.
The person purchasing any product is responsible for paying GST instead of the person selling it. They have to pay the tax for every single transaction. For instance, let's say that a manufacturer adds GST when he is selling to the wholesaler, wholesaler imposes the tax while selling to retailers. The manufacturer and the wholesaler gets the tax return back.
The tax is only applicable on the net price. The end person does not get the tax refund. The higher the amount of purchase, the more the amount of tax is. You can use our GST Calculator to calculate the tax.
Advantages of Using GST Tax Calculator
Some of the advantages of using a GST calculator are as follows:
- GST calculator helps to calculate the rates more accurately in a precise way.
- It saves time and minimizes the chances of error while calculating GST.
Method to Calculate GST Using a GST Calculator Online
GST can be calculated online in a simple way. To calculate GST, the taxpayers must have an idea about the tax levied on various goods and services described under the GST regime. The GST rates vary depending on the categories.
Mentioned below are the steps for calculating GST using a GST calculator:
- Select the user type from Buyer, Manufacturer, or Wholesaler/Retailer.
- Enter the net price of goods and services.
- Enter the profit ratio in percentage.
- Select or add the GST rates for various categories in the GST tool.
- Click on the "Calculate" button to determine the final price of goods and services.
GST Calculation Formula
Calculating GST can be made easier for manufacturers, retailers, and wholesalers using the formula mentioned below:
To add GST to the base amount
GST Amount = (Original Cost *GST%)/100
Gross Price = Original Cost + GST Amount
To remove GST from the base amount
GST Amount = Original Cost - [Original Cost * {100/(100+GST%)}]
Original Cost = Gross Price - GST Amount
we have developed an online GST calculator that helps manufacturers, retailers and wholesalers to calculate the GST rates accurately in a precise manner.
Get GST rates calculated online easily at your fingertips with Meetanshi's Free GST Calculator.
