GST Goods Or Services Tax can be determined by simply multiplying the GST rate by the taxable number. If CGST & SGST/UTGST are to be added, so both CGST and SGST are half of the total volume of GST. GST is the complete set of all the indirect taxes. GST is a systematic tax imposed on the country’s production, sales and use of goods and services. To get registered under the GST scheme, numerous small and large organisations are expected to have a GST Identification Number. Integrated GST is paid when some form of sales purchase is made inside (Inter-state) states.
It is quite a difficult process to measure the GST number at the time of filing the GST return. If you don’t know how to measure GST for CGST, SGST, IGST and Cess break-up, it’s going to be an extra hassle for you. In order to get the right or you can say accurate GST payable to the government, the GST tax measurement formula is very relevant. Instead of paying less due to measurement mistakes, you still want to pay the right GST amount as a taxpayer. This article thus describes how GST is measured in simple & easy steps in India.
Use Our Free online GST Calculator and get your accurate figure of Goods Or Services Tax instantly. The Goods and Services Tax (GST) is an indirect tax levied on the sale of goods and services in India. GST is a multi-stage, comprehensive, destination-based tax imposed on each value addition. GST is effective as of 1 July 2017 and has replaced the majority of indirect taxes in the country. Under GST, goods and services are split into separate tax rates and the main tax rates are as follows:
Following Are The Different GST rates slabs
Salt, fresh milk, natural honey, etc. 0 percent /Nil
0.25%-Diamond, semi-precious crystal, etc.
3% Jewellery, stamps, etc
5% Cashew nuts, chocolate, bread, pizza, etc.
12% – Machines, cards, diesel motors, etc.
18 percent – leaves of Bidi wrapper, cocoa powder, etc
28% – caffeinated beverages, cigarettes, etc.
The simplistic GST calculator can allow you to measure the percentage-based GST rates for the gross or net product price. It also includes a correctly determined bifurcation of the rates between CGST and SGST/IGST. The calculator is an effective instrument that saves time and decreases the probability of human error when estimating the overall cost of products or services for GST.