Goods and Services Tax (GST) is an indirect tax imposed in India which is levied on the supply of goods and services. GST is a comprehensive, multi-stage, destination-based tax that replaced most indirect taxes on 1st July 2017.
Under GST, goods and services are divided into tax slabs of 0%, 5%, 12%, 18%, and 28%. Certain products like petroleum, alcohol, and electricity are excluded and taxed separately by states.
IGST applies on interstate supplies, while CGST and SGST are applied for intrastate supplies.
A GST calculator is an online tool used to determine GST payable for a transaction. It can be used by buyers, manufacturers, and wholesalers to calculate taxes monthly or quarterly.
| Particulars | Amount |
|---|---|
| Invoice value | 100,000 |
| GST @12% | 12,000 |
| Price to be charged | 112,000 |
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