Finance Taxation

What is GST and how is it calculated for inclusive and exclusive prices?

QUICK ANSWER

Goods and Services Tax (GST) is an indirect tax applied on goods and services in India.

Detailed Explanation

For GST Exclusive price: Tax Amount = (Original Price × Rate) / 100. Total Price = Original Price + Tax Amount. For GST Inclusive price: Tax Amount = Original Price - (Original Price × 100 / (100 + Rate)). Net Base Price = Original Price - Tax Amount.
Data Attribution & Rights
Source: GST Council India (Open Data License)

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📖 GST Rates & Compliance Guide

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