About Goods and Services Tax (GST) Calculator
Goods and Services Tax (GST) is a value-added tax imposed by the government on the sale and supply of goods and services in India. GST calculation involves determining the amount of tax payable on a particular transaction based on the GST rate applicable to the goods or services involved.
A GST calculator is a tool used to estimate the amount of GST payable on a particular transaction. The GST calculator typically requires inputs such as the value of the transaction and the applicable GST rate. The calculator then uses this information to estimate the amount of GST payable on the transaction.
The GST calculation can be a useful tool for businesses and individuals to estimate the amount of tax payable on a particular transaction and plan their finances accordingly. It also helps to ensure compliance with the GST rules and regulations and avoid any penalties for non-compliance.
Goods and Services Tax (GST) Calculation
Formula for Basic GST Calculation:
GST = (P * R) / 100
Net Price = P + GST
P: Principal or total amount,
R: GST Rate in Percentage