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GST Calculator: A Complete Guide to Calculate Your GST Amount Online


GST calculator
GST calculator

It’s crucial to figure out how much GST you have to pay so you don’t have to pay late fees, and you can set aside the money in advance to plan your budget in a better way.

What is a GST calculator?

An online GST calculator makes calculating the total GST due for a product or service simple. This online tool has three modes: buyer, manufacturer, and retailer/wholesaler. The input choices for each of these variations are different.

  1. The Buyers’ calculator requires product price and GST rate.
  2. Manufacturers must input the product cost, profit percentage, and GST rate.
  3. Wholesalers and retailers must provide a total cost, profit margin, and GST rate.

These users will obtain the final price, tax, and tax split into CGST and SGST/IGST.

Using the GST calculator is a simple and straightforward procedure. To begin with, you must have a clear understanding of the GST rates that apply to various types of items and services before proceeding with the calculation procedure.

  1. You have to find the applicable GST rate for the goods or services
    1. Find the HSN code or SAC code

To calculate the GST rate, one must first decide whether the supply is a product or a service. Once the supply is identified as a good, the HSN Code for the product must be obtained. All goods traded internationally are classified using the HSN Code.

When providing a service, the individual engaged should verify the SAC Code to determine whether it applies. Service Accounting Codes (SAC) is used to categorize all GST-covered services.

  1. Determine the applicable GST rate for the HSN or SAC Code.
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Once an HSN or SAC code is identified, the GST rate linked to that HSN or SAC code may be determined rather easily. The GST is charged at NIL, 5%, 12%, 18%, and 28% for both products and services at five distinct slab rates.

  1. Determine which tax  IGST, CGST, or SGST applies to your circumstances.

Once the GST rate has been decided, the application of IGST, CGST, and SGST must also be decided. To ascertain if IGST, CGST, or SGST is applicable, the supply location must be determined. A lot of the time, the location of supply for products or services would be where the items were delivered, or the service was rendered.

  • The Integrated Goods and Services Tax (IGST) is used to tax interstate (between two states) and international (imports and exports) supplies of goods and/or services (IGST).
  • If the goods or services are provided in the same state, both CGST (Central Products and Services Tax) and SGST (State Goods and Service Tax) are charged.

Using a GST calculator online, how do you determine the amount of GST to pay?

Step 1: Once you know the GST rates, you have to enter the price of goods and services.

Step 2: Select a GST rate that is appropriate for the category to which your goods or services belong. In addition, if you enter an HSN or SAC code, you can get the corresponding GST rate.

Step 3: To compute, hit the “Calculate” button.

One of the most important benefits of correctly filing your GST returns is that it may make it easier for you to get business financing. You can take the help of a business loan calculator to calculate the monthly installment before you apply for the loan.

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Filing GST returns on time improves your business loan eligibility and helps you get a business loan at competitive terms and conditions.

Read Also: Learn The Benefits of Using a Personal Loan Interest Calculator


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