![]() ![]() Rounding your answer to the nearest kg, how much did John weigh before his diet? How much does Benjamin's ticket currently cost?įollowing a low sugar diet, as well as regular exercise, John reduced his weight by \(8\% \) and now weighs \(72\) kg. Next month, the price of Benjamin's monthly bus ticket will increase by \(6\%\) and will cost \(\$ \ 42.40\). How much would she have had to pay if there hadn't been a discount? After looking around for a while, Charlotte buys a dress for \(\$ \ 84\). How much was Cathy's apartment worth when she bought it?Ī clothes shop puts everything on sale with a \(30\%\) discount. She has been very fortunate and its value has gone up by \(24\%\) and is now worth \(\$ \ 198\ 400\). How much did her gym class used to cost?Ī few years ago Cathy decided to invest in property and bought an apartment. How much did the shoes cost before their price was increased?įollowing a \(25\% \) decrease in price, Clara's gym class cost \(\$ \ 90\). It will give you the GST amount & PRE-GST amount i.e., after deducting the GST.Following a \(20\%\) increase in price, a pair of shoes costs \(\$ \ 96\). GST Inclusive: Since this amount is inclusive of GST, enter the Invoice value here i.e., the price of the product after adding GST. It will give you the GST amount & POST-GST amount i.e., after adding the GST. GST Exclusive: Since the amount is exclusive of GST, Enter Taxable value here i.e., the actual price of the product without GST. Select CALCULATE GST to get the results.Select your required GST rate from the drop down given.First of all, select GST exclusive/inclusive as per your need.Since the above mentioned process of calculation is little bit complex and confusing, we made it easy for you. Now if you want to calculate the amount of GST you paid on it, use this formula – Suppose you purchased a plastic bottle from a shop for Rs.100 and it was inclusive of GST rated 18%. Reverse Calculation of GST from Invoice Value Invoice Value i.e., the amount payable by Mr. ![]() A lives in Odisha and purchases oil from dealer in C.G., he is required to pay IGST. Amount & category of GST to be charged would be – B is a dealer of grocery items in C.G., he sells 100 bottles of oil worth Rs. A would be required to pay to the shopkeeper is Rs.100 + Rs.18 = Rs.118. A would have purchased it outside C.G., then it would have attracted IGST i.e. 100 is the taxable value and we have to charge GST on this value. A, who lives in Raipur (C.G.), purchased a Good from a local dealer worth Rs. ii) Invoice Value (inclusive of GST)-It is the sum total of Taxable value + GST amount.i) Taxable Value (exclusive of GST)- The value on which GST is applicable i.e., the value on which GST is not charged and added till yet & we are required to charge GST on this value.Now, let’s see “How to apply these tax rates on the value of product to calculate GST Payable?”įor this purpose, let us take an Example:īefore I tell you, please understand 2 terms:. We already know about the 5 different slab rates that are applicable on different products. The country is divided into two halves, one is the state where your business is located and the other half consists of other states of India. Before GST there was a huge ambiguity on the applicable tax rates on different products, however GST has introduced HSN code (a 4-8 digit code) which helps in identifying the applicable rate of GST on different products. GST is divided into five different tax slabs for collection of tax - 0%, 5%, 12%, 18% AND 28%. Before GST, there were more than 17 Indirect Taxes but GST subsumed all and became a single indirect tax for the whole nation, which led to the “ONE NATION ONE TAX” structure. It’s exclusively designed & has a class within it which provides economic freedom to traders. GST which refers to Goods & Service Tax, is an indirect tax reform which ultimately aims at removing the tax barriers between states and create a single market which is open to all to buy, sell, import, export within the country. ![]()
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