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GST Tax Calculator: Tax Calculation under GST, Deductions, and Rates


You can easily calculate tax under GST rates with GST Tax Calculator. If you want to calculate taxable and nontaxable GST by yourself, here's how to do it. – PowerPoint PPT presentation

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Date added: 3 October 2020
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Title: GST Tax Calculator: Tax Calculation under GST, Deductions, and Rates

GST Tax Calculator Tax Calculation under GST,
Deductions, and Rates
  • https// Imprezz

India is a nation that is emerging towards the
greatest days of all time. With the literacy rate
up to almost 75 of 132 crores of population,
people are now ready to educate themselves and
find transparency in everything that the
government offers. Recently, GST tax calculators
have gained immense popularity due to apparent
changes in the GST regime. The government has
notified economic relaxation measures and
extended due dates to overcome the impact of the
COVID-19 pandemic crisis. The GST Council of
India has also implemented several tax
calculation changes to relieve the taxpayers of
the compliance burden. Each registered person or
business registered as a taxpayer is linked with
the taxation policy to track funds effectively.
This article will walk you through GST rates,
deductions, and calculations.
Categories of GST
  • There are four departments of GST, they are

UTGST The Union Territory Goods and Services Tax
(UGST) includes taxes that are claimed by the
government of union territory. IGST The
Integrated Goods and Services Tax (IGST) includes
taxes claimed by the state government on the
inter-state exports and imports department.
CGST The Central Goods and Services Tax (CGST)
includes taxes claimed by Indias central
government. SGST The State Goods and Services
Tax (SGST) includes taxes that are claimed by the
State government.
Tax Rates Under GST Regime
  • The different rates of GST in India are
    accurately calculated through a GST tax
    calculator. It includes the following tax rates
  • 0 It covers the day to day necessary products
    such as rice, wheat, dairy products, etc.,
  • 25 It includes coarse diamonds, various
    precious gems, etc.,
  • 3 It has goods like gold, silver, leather,
    quality jewels, etc.,

  • 5 It covers the processed food item and fish
    millets, foot wares below RS.500, etc.,
  • 12 It includes cell phones, ayurvedic
    medicines, frozen meat or meat fat, etc.,
  • 18 It covers books, electrical batteries,
    trademarked items, hotels and food services,
  • 28 It includes luxury services and products
    such as 5star hotel services, private jet, ATM,
    alcohol, tobacco, etc.,
  • Every small-scale business or large-scale
    business has to consider the GST policies of the
    country to maintain a smooth and professional
    financial relationship with the government.

GST Tax Calculator Tax Calculation Requirements
  • India is now following a unified single tax
    structure across all the states. Many people in
    business found it a worrying factor as it may
    increase the burden of compliance. On the other
    hand, the nation has a more significant deal
    under GST taxes in day-to-day food and personal
    care products.
  • These are few essentials that are required to
    calculate GST Tax. These essentials are usually
    required to calculate the GST amount on GST tax
    calculators, such as

  • The original date when the GST annual return is
  • The product/services your business offers that
    attracts the RCM (reverse charge mechanism).
  • The acknowledgment of ITC (Input Tax Credit).
  • The total tax amount of the taxable month.
  • The due date of the month of filing your GST
  • The number of months that you want to calculate
    your GST tax

How to Calculate GST Amount
Step 1 Covert the GST rates (The GST rates
5, 12, 18, 28 ) into decimals. I.e., divide
the percentile by 100. Example 12 100
0.12 Step 2 Multiply the actual amount of the
product, for instance, consider it to be RS.
12,000, multiply the amount with the decimal
value of the GST tax percentage. Example 12,000
0.12 RS. 1,440 Step 3 Now, RS. 1,400
becomes the GST amount, excluding the original
amount. Further, add the GST tax amount to the
actual amount. Example 12,000 1,440 RS.
13,440 It is the calculated tax, including the
GST of the imaginary product.
How to Calculate Taxable GST
  • To calculate the taxable GST, follow the step 1
    mentioned above, add one to the applicable tax
    rate and divide the total receipt by that value
    derived. For instance,
  • If the tax rate is 12, then after step 1,
    i.e., 0.12 1 1.12.
  • Now divide the total receipt amount derived from
    step 3, as mentioned above, by 1.12, i.e.,
    13,440 1.12 RS. 12,000.
  • You can easily calculate the GST tax through the
    online GST tax calculator. GST tax calculation at
    your fingertips, the best accounting
    software in India. Visit to know more
    about GST invoices, formats, quotations, and more.

Types of Taxpayers Under the GST Regime
Generally, there are two types of taxpayers under
  • Type 1 Taxpayers Registered Under the Normal
  • Under this taxation scheme, the taxpayers can
    claim the Input tax credit and collect the tax
    through tax invoices. It includes businesses or
    taxpayers with a specific turnover threshold.
  • Business with a turnover of up to 5crore.
  • Business with a turnover of over 5crore and more.

Type 2 Taxpayer Registered Under the
Composition Scheme Under this taxation scheme,
taxpayers are not allowed to claim the input tax
credit, nor are they permitted to collect tax
through tax invoices. Both schemes have their
pros and cons. The aim is to bring up the tax
culture to an appreciable facility level. The
nation is slowly trying to adapt the portal
services and online form procedures for a better
experience. The government is focused on speeding
the process related to GST to encourage people to
pay their taxes for the nations better tomorrow.
  • GST tax calculation is a no brainer task. Yet, as
    a taxpayer, be aware of what you follow in terms
    of calculating your taxes. As a citizen of India,
    we must pay taxes on time with greater
    transparency possible. It is the only way we can
    contribute to the nation and overcome the
    COVID-19 economic crisis.
  • To automate the GST tax calculation, Subscribe to Rid of multiple tax calculations
    and automate GST calculated Invoices on our
    online accounting software. For GST related help,
    feel free to contact our support team. We are
    ever ready to offer an uninterrupted business
    environment for you.
  • At, we offer a 14 days free trial
    software program, empowering entrepreneurs,
    freelancers, and small businesses in India. Log
    in to start your GST calculation.

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