Online GST Calculator

Ever since the introduction of the Goods and Services Tax (GST) in 2017, calculating the final price of a product/service has been the responsibility of a customer. GST is a multi-level all-inclusive tax covering all the previously fragmented indirect taxes. 

However, imagine going for a dine-out on a tight budget and not being able to fathom your bill amount until it arrives. None of us wants that kind of anxiety, and this is exactly where an online GST calculator comes in handy. Read on to know more about this beneficial tool.

If you wish to cross-check the output provided by this online tool on your own, here is a mathematical formula to calculate GST.

Now, there can be 2 instances.

1. Where you know the net price and want to compute the GST-included price:

Here, you will first need to calculate the GST amount, say A, using this formula:

A = (P x r) / 100

Where,

• P - stands for net price and
• r - indicates the GST rate.

Now you can calculate the final or gross price G as follows.

G = P + A

2. Where the GST-included price is given, and you want to compute the original price:

First, you need to derive the total GST amount A from the given gross price G as follows.

A = G - [G x {100 / (100 + r)}]

Now you can calculate the original or net price P as well.

P = G - A

From the above instances, you can clearly understand that manual calculation using these formulae can only give you the total GST amount.

Calculating the break-up of CGST, SGST, and IGST manually can be a lengthy process. This is something that an online GST calculator can provide easily and quickly, which brings us to the next section.

If you file your GST returns after the given due date, you will need to pay a late penalty of Rs 100 per day, subject to a maximum of 25% of your turnover, along with interest on your net GST liability. This interest is calculated from the day immediately succeeding the due date.

Now, you might be wondering if this applies to you if you have had no sales on supplies in the concerned period. Yes, even then, you need to file your NIL GST returns as the penalty is not related to the amount of sales.

If you have missed the deadline and want to know your probable interest payment, here is the GST interest calculation formula for your convenience.

I = P x (r/100) x (n/365)

Where I stands for interest payable, P indicates the net GST liability, r is the annual interest rate, and n is the number of days of delay since the due date.

You can also find a GST interest calculator online, which can help you determine such amounts faster.

To avoid such unnecessary charges, make sure to note the last date for filing GST returns in a month or quarter. Also, know your tax liability with the help of an online GST calculator and don’t remain in the dark!