Free GST calculator, calculate GST online in 30seconds
Use Razorpay’s Indian GST Calculator to Instantly Calculate GST in Seconds.
Last updated : Mon, 6th Sep 2024
Razorpay’s Free GST Calculator is tailored for small businesses and taxpayers to instantly calculate the GST Amount online. Calculate the amount inclusive of GST and exclusive of GST with profit ratio. Get an easy split between Net Amount, Profit amount, SGST, CGST & IGST in 3 simple steps with our Online GST Calculator.
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TABLE OF CONTENT
01
How to Calculate GST Online With Razorpay’s GST Calculator?
With Razorpay’s GST Calculator, you can calculate the GST Amount in 3 simple steps. You can enter your data in 3 input fields provided in the calculator. Based on your data, the tool automatically calculates GST and the total selling price in seconds.
Here’s a stepwise guide to using the Razorpay GST Calculator
02
GST Calculation formula with example
A GST Calculator helps us calculate the amount of Goods and Services Tax (GST) applicable to the goods or services in a particular transaction. Any business, manufacturer, wholesaler and retailer can calculate GST easily with the help of the following formulas based on applicable scenarios.
GST Amount = (Value of Supply x GST Rate %) / 100
Calculation of GST can have 2 primary scenarios
SCENARIO 1
GST is excluded from selling price
Calculating GST which is exclusive of the selling price can be particularly applicable and useful for businesses which are manufacturers or wholesalers as they need to calculate GST on the goods they are selling, after adding profit percentage to the manufacturing cost. Manufacturers or wholesalers can be from a range of industries like automobile, online retailer, food, pharmaceutical, electronics, etc.
Total Selling Price = Value of supply + GST Amount + Profit Amount or Ratio (if any)
Example of calculating GST with example
Let's say you're selling goods or services for Rs. 10,000, and the applicable GST rate is 18% with a profit ratio of 20%
Selling Price Including Profit Before GST = (10,000 x 20) / 100 = Rs. 12,000
GST Amount on Selling Price = (12,000 x 18) / 100 = Rs. 2160
Total price of the product including GST = 12,000 + 2160 = Rs. 14,160
SCENARIO 2
GST is included in the buying price
Calculating GST which is inclusive of the buying price can be particularly applicable and useful for retailers or buyers. Buyers can be consumers, businesses, distributors, importers or government affiliated agencies.
GST Amount = Value of supply – [Value of supply x {100/(100+GST%)}]
Example of calculating GST from buying price including GST
Let's say you're buying goods or service for Rs. 23,600 and the applicable GST rate is 18%
GST Amount on Buying Price = 23,600 - [23,600 x {100/(100+18%)}]
GST Amount on Buying Price = 23,600 -20,000 = Rs. 2,360
03
Types of GST in India
Goods and Services Tax (GST) is divided into SGST, CGST, IGST & UTGST based on their applicability based on intra-state and inter-state supply of goods and services. GST is collected by state and central governments as per the governed acts under the GST Act, 2017.
Central Goods and Service Tax (CGST)
Central Goods and Services Tax (CGST) is a tax levied by the central government on the supply of goods and services within a state (intra-state) in India. It replaces all earlier central indirect taxes such as VAT, service tax and central excise duty, to create a unified tax structure for intrastate transactions. CGST is charged along with SGST with both rates usually equal.
Sales Goods and Service Tax (SGST)
State Goods and Services Tax (SGST) is a tax levied by the state government on the supply of goods and services within a state (intrastate) in India. SGST gives the state governments an autonomous spending power on various developmental activities. SGST is different from CGST (Central Goods and Services Tax) and IGST (Integrated Goods and Services Tax) as the first deals with intrastate transactions, while CGST is levied by the central government, and IGST applies to interstate transactions.
Integrated Goods and Service Tax (IGST)
Integrated Goods and Services Tax (SGST) is a tax levied by the central government on the supply of goods and services from one state to another (interstate) in India. IGST applies to imports and exports, ensuring that goods and services crossing state or national borders are taxed uniformly. The central government collects the IGST and then distributes it among the respective states.
Union Territory Goods and Service Tax (UTGST)
UTGST stands for Union Territory Goods and Services Tax, is the equivalent of SGST for Union Territories. While SGST is levied by state governments on intra-state transactions, UTGST is imposed by Union Territory governments on the supply of goods and services within their respective territories. The UTGST is collected along with the CGST.
Did you know?
Any sale or supply of goods or services within a state will be liable to CGST & SGST. The tax revenue collected from such sales are shared equally between the centre and the state governments. Similarly, any supply of goods or services between Union territories is subject to UTGST and CGST, and is shared equally between centre and union territory governments.
Additionally, IGST collected from any interstate transaction is collected by the Centre and then shared on the basis of destination of goods.
04
GST Rate Slabs and Examples of GST Rates
The GST rate list is divided into six slabs based on applicability for different products and services.
Goods and services in India fall under different tax slabs
0% for essential items
0.25% for products like Non-industrial diamonds or unworked precious/semi-precious stones
3% for Gold, Silver, Gold jewellery, Imitation jewellery, etc.
5% for basic necessities like sugar, tea, edible oils, packaged paneer, coal, Domestic LPG, etc.
12% for standard goods like butter, ghee, almonds, mobiles, fruit juice, etc.
18% for most consumer products like hair oil, soap, ice-cream, pasta, etc
28% for luxury and sin goods like small cars, AC, Fridge, cigarettes and aerated drinks, etc.
Below table gives more examples of different products and services under the GST rate slabs.
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