GST applies to the indirect tax imposed on the supply of goods and services. As of 1 July 2017, GST emerged in India as a single taxation structure and replaced all the country’s indirect taxes. In the 2017 budget session, which was approved by Parliament on March 29, 2017, the Central Government passed the GST. GST Goods Or Services Tax is complete tax reform as it includes all the kinds of taxes under a sigle roof.
GST is a comprehensive tax levied on the manufacture, sale, and consumption of goods and services in the country. Different small and large organizations are required to have a GST Identification Number to get registered under GST policy. When any kind of sales transaction is made within states (Inter-state), Integrated GST is charged. And for any intra-state sales, Central GST and State GST are levied.
There are various forms of GST which is demanded, required, and collected by the government are as follows:-
State GST (SGST): It is collected by State Government
Central GST (CGST): It is collected by Central Government
Integrated GST (IGST): It is collected by Central Government for inter-state transactions and imports
Union Territory GST (UTGST): It is collected by Union Territory Government
We all know that calculating GST can be a troublesome task but here you do not need to worry because you have our online free GST calculator in India. Specifically, GST applies to the indirect tax imposed on the supply of goods and services. As of 1 July 2017, GST emerged in India as a single taxation structure and replaced all the country’s indirect taxes. In the 2017 budget session, which was approved by Parliament on March 29, 2017, the Central Government passed the GST Act.
Undoubtedly, GST is a systematic tax imposed on the country’s production, sales, and consumption of goods and services. To get registered under the GST scheme, numerous small and large organizations are required to have a GST Identification Number. Integrated GST is paid when some form of the sales transaction is made inside (Inter-state) states. And Central GST and State GST for any intra-state sales.
Based on a percentage-based GST (Goods and Services Tax) rate, Our Easy To Use And Free Online GST calculator easily lets you find either the net or gross price of your product. To obtain other values, it’s simple to use – provide values that you know (for example, net price and GST rate) (in this case, gross price and tax amount).
Various Tax heads come in Goods Or Services Tax
IGST is paid for interstate products where, relative to the supplier’s position, the place of supply is in different states. The CGST and SGST equivalent rate (approximately half of the GST rate applicable to IGST) shall be paid for intrastate supplies where the place of supply is in the same State compared with the place of supply of the supplier.
Various Methods To Use GST Calculator Online
- Select GST Inclusive / GST exclusive option as required by the user.
- Enter the original amount of the product.
- Select GST percent rate applicable on the product.
- Click on the “Calculate” option to calculate the final amount of the product.