GST Calculator
What is GST and Why is it Important?
Goods and Services Tax (GST) is a comprehensive indirect tax system introduced in India in 2017. It plays a vital role for both businesses and consumers by:
- Simplifying the tax structure
- Eliminating the cascading effect of taxes
- Promoting transparency in pricing
How to Use This Calculator
- How to Use This Calculator
- Adjust the slider for the Amount(in Indian Rupees).
- Set the GST Rate using the slider (common rates include 5%, 12%, 18%, and 28%).
- The calculator will automatically update the GST amount and total amount.
- Click the 'Reset' button to revert to the default values.
Frequently Asked Questions
How is GST calculated in India?
GST is computed by multiplying the base price of goods or services by the applicable GST rate. The formula is: GST Amount = (Base Price × GST Rate) / 100
What are the main GST rates in India?
The standard GST rates in India are 5%, 12%, 18%, and 28%. Additionally, certain essential goods and services may be taxed at 0% or be exempt.
Who needs to pay GST?
GST is ultimately borne by the end consumer. However, businesses with an annual turnover above ₹40 lakhs (or ₹20 lakhs in some states) must register for GST, collect it from customers, and remit it to the government.