1. What is GST?

GST (Goods and Services Tax) is a comprehensive indirect tax levied on the supply of goods and services in India. It has replaced multiple cascading taxes levied by the central and state governments.

2. How Does the Calculator Work?

The calculator uses the GST formula:

Where:

• \( \text{Supply Value} \) — Value of goods/services in INR
• \( \text{Rate} \) — Applicable GST rate in percentage

Explanation: The calculator multiplies the supply value by the GST rate (converted from percentage to decimal) to compute the GST amount.

3. Importance of GST Calculation

Details: Accurate GST calculation is crucial for businesses to determine tax liability, file returns, and maintain compliance with Indian tax laws.

4. Using the Calculator

Tips: Enter supply value in INR and GST rate in percentage. The calculator will compute both the GST amount and total value (supply value + GST).

5. Frequently Asked Questions (FAQ)

Q1: What are the GST slabs in India?
A: India has four main GST slabs: 5%, 12%, 18%, and 28%, with some essential items at 0%.

Q2: How is GST different from VAT?
A: GST is a single, destination-based tax replacing multiple indirect taxes, while VAT was applied only to goods at the state level.

Q3: Can I use this for both CGST and SGST?
A: Yes, the calculator computes the total GST amount which can then be split equally between CGST and SGST for intra-state supplies.

Q4: Are there items exempt from GST?
A: Yes, certain essential items like fresh vegetables, milk, and educational services are exempt from GST.

Q5: How often should GST returns be filed?
A: Regular businesses must file monthly returns, while composition scheme dealers file quarterly returns.