GST Calculator
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GST Calculator
Taxation is evolving. The GST Calculator is here for that. It’s vital for government revenue. Everyone needs to know their GST Exclusive and GST Inclusive costs. This financial tool simplifies it.
Enter the Cost of Goods/Services, say ₹1000. Then, Select the GST Rate. Options might be 3%, 5%, 12%, 18%, or 28%. Add a Profit Ratio if you want. The tool gives you Taxable Supply value. It’s essential for precise business accounting. Your tax invoice shows the Net GST. This ensures every transaction is clear and accurate.
What is GST?
The Goods and Service Tax also called as GST was introduced in India as a form of indirect tax. It was first approved in the parliament on 29 March 2017 and was effectively implemented on 1 July 2017. GST superseded other forms of indirect taxes like excise duty VAT and other service taxes. In simple words all the goods and services in the market are subject to GST.
All the value added systems in India fall under multistage goods and service tax law. This is completely dependent on the state and the type of trade. The whole nation is under GST. Each and every point of sale is taxed under the GST system. Sales that take place inside one state are subject to both central and state sales taxes. The Integrated GST is liable for all interstate sales.
CGST, SGST, and IGST are the three sub components under GST. Out of the three, CGST is collected by the central government in case of intrastate sale. SGST is collected by the state government for internal commodity exchanges. The federal government collects inter state transactions in the name of IGST.
