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When you do online shopping, book a hotel, order food, or even purchase something for your business or for your personal use, you must have noticed one common thing on the bill, which is GST.
Most of you must be a little bit aware of what GST is, and you must be wondering why you always pay more than the price of the product.
In such cases, a GST calculator is very useful.
If you also want to calculate your taxes without any confusion, then this blog is for you. In this blog, we will learn everything about the India GST calculator in the best possible way and in a simple way.
The full form of GST is Goods and Services Tax. GST is the tax that gets added when you buy a good or service. In the earlier days, there were different types of taxes, such as VAT, service tax, excise duty, and more, which created a lot of confusion. To reduce this confusion, GST came. GST brought all those taxes into one single system and reduced all the confusion. Now, whenever you buy anything, GST is also included in the final price, which makes you pay a little bit extra.
It takes a lot of time when we calculate GST, especially when there are different tax rates (5%, 12%, 18%, or 28%). This is where the GST calculator and Indian tools will help you out.
Read More - GST on Legal Services
A calculator will instantly tell you
An easy GST calculator not only reduces the confusion, but it also saves time and avoids any kind of mistake.
GST calculation depends on whether GST is being added or removed.
With the help of the GST calculator, you can find out the GST amount if you have the price before GST was added. Let's learn how to do that.
You just take the original cost of the product and add the GST amount on top of it.
To make it even clearer, let's understand it with an example:
Let’s understand with an easy example.
Suppose a product costs ₹1000, and GST is 18%.
First, calculate the GST :
Now, add this GST to the original price:
You are done. It was very simple, right?
This is exactly why an 18 percent GST calculator is so commonly used in India, because 18% is one of the most widely applied GST rates on everyday goods and services.
Most of the price you pay already has GST included in that, and you may want to figure out how much extra money you are paying or what the original price of the goods or service is.
Formula:
Let's understand this one too with a very simple example.
This one is also very simple, right? Now you can calculate the GST amount and also calculate the GST of a price addition using these simple formulas.
These formulas are the base of every calculator you find online.
Also Read - Features of GST
Let's be honest, in today's world nobody will sit with a pen and paper to do calculations. In this case, the GST calculator online will help you calculate GST within less time without any hassle.
You simply have to submit the following things:
And you get the result.
This is the main reason why GST calculators in India are very popular.
So there are mainly 4 types of common GST slabs in India:
*T&C Apply
The 18 percent GST calculator is very common because it is included in our daily life-used goods and services, like electronics, restaurant bills, and many services.
Some people are also confused between GST and the GST/PST calculator
Indian people mainly focus on GST only.
You must be thinking, "I am not from a commerce background, so how will I calculate GST?" But don’t worry, even if you are not from a commerce or finance background, the easy GST calculator makes things super simple for everyone.
Following are some of the great benefits of using an India GST Calculator
Instead of guessing the tax amount and getting confused, you can calculate confidently.
Always double-check the GST rate (5%, 12%, 18%, 28%) before calculating, because different products have different slabs.
Till now, you must have realized that the GST calculator is the best way to calculate tax without any confusion or mistakes.
It does not matter. Whether you want to add GST or remove GST, it will help you get quick and accurate results in less time. So next time you see GST on a bill, you’ll understand it clearly, calculate it confidently and become your own financial experts
How is GST calculated?
To calculate the GST, you need to apply a fixed percentage to the price of a product or service. Then you will multiply the amount by the GST rate to get the tax value.
What is a GST calculator?
A GST calculator simply means an online tool that helps you calculate GST very quickly without any heavy and confusing calculations. It shows the tax amount and final price in seconds.
Why is there a difference between GST calculated through a GST calculator and a normal calculator?
A GST calculator automatically applies the correct GST formulas.
A normal calculator may cause mistakes if you enter the wrong steps or forget something.
Why should you use a GST calculator?
The reason why you should use a GST calculator is that it saves time and reduces errors. It makes GST calculation quick, easy, and stress-free.
