Post - GST Amount
The GST calculator is a practical, ready-to-use tool for calculating the GST owed for a given month or quarter. Buyers, manufacturers, and distributors are just a few of the numerous types of users who can use this calculator.
Navi’s GST calculator helps calculate the total tax payable on goods and services as GST. The GST calculator saves time and lowers the possibility of human error. It has a user-friendly interface that is simple and provides accurate results instantly.
The final/gross price of the goods and services to be billed, along with the tax amounts for each tax head—CGST, SGST, or IGST—will be shown on the Navi GST calculator’s screen.
Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Union Territory Goods and Services Tax (UTGST) and Integrated Goods and Services Tax (IGST) are the four GST categories. The following formula helps in determining GST on different goods and services:
Where GST is not applied:
GST Amount = (Value of Supply x GST Percent)/100
Price to be charged = Supply Value + GST Amount
Where the value of the supply includes the GST:
GST Amount = Value of Supply – [Value of Supply x 100/[(100+GST %)]]
For example, assume that you are a buyer and the original cost of goods you bought is ₹5 lakh. If the goods fall in the 12% GST bracket, the GST will be:
(₹5,00,000 x 12) / 100 = ₹60,000
There are many benefits to the GST, few of them are mentioned below:
Fixed deposits are popular saving instruments that allow you to earn interest for depositing an amount for a fixed period.
A fixed deposit (FD) is a type of savings scheme that provides higher interest rates compared to a bank savings account.
Tax-saver FDs are fixed deposits that offer tax deductions through Section 80C of the Income Tax Act.