Bajaj Finserv app for all your financial needs and goals
Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.
You can use the Bajaj Finserv App to:
- Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
- Invest in fixed deposits and mutual funds on the app.
- Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
- Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
- Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.
- Shop from over 100+ brand partners that offer a diverse range of products and services.
- Use specialised tools like EMI calculators, SIP Calculators
- Check your credit score, download loan statements and even get quick customer support—all on the app.
Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.
Frequently asked questions
A GST calculator is a tool used to determine the Goods and Services Tax (GST) amount payable on a transaction. By inputting the cost and applicable GST rate, the calculator computes the GST amount, aiding in accurate tax calculations for businesses and individuals.
The percentage of GST in India varies depending on the type of goods or service. There are four tax brackets, namely 5%, 12%, 18%, and 28%.
Anyone, from small business owners to individuals, can utilise the GST calculator. It is a handy tool for accurately determining Goods and Services Tax liabilities, ensuring compliance and effective financial planning. Any buyer, manufacturer, wholesaler or retailer can use the calculator by following 2 simple steps:
- Type in the net price of your service or product and the GST tax slabs that apply, such as 5%, 12%, 18%, or 28%.
- Click "Calculate" to see the final or gross price of goods and services, and the tax owed.
To calculate 18% GST on the total, you simply multiply the total amount by 18% (or 0.18). For example, if the total amount is Rs. 1000, the GST amount would be Rs. 180 (1000 x 0.18).
To calculate GST on your total sales, you need to first determine the GST rate applicable to your product or service. Once you know the applicable rate, you can multiply the value of your sales by the GST rate to calculate the GST amount.
Input the net price before GST and specify the GST rate. The tool will then compute the total production cost, CGST, SGST, and overall tax amount.
Input the production cost or cost of goods, profit ratio percentage, and GST rate. The tool will then display the total production cost, along with CGST, SGST, and the overall tax amount.
To calculate GST on MRP (Maximum Retail Price), first identify the GST rate for the product. Then, subtract the GST percentage from 100 to determine the base price percentage. For example, if the GST rate is 18%, subtract 18 from 100, leaving 82%. Divide the MRP by 118 and multiply the result by 100 to find the base price. The difference between the MRP and the base price gives you the GST amount. This method works for finding both the inclusive and exclusive GST amounts on MRP-based pricing.
GST is calculated on the transaction value of goods or services, which is the price paid for the supply, including any additional costs like packaging, delivery, and commissions. Discounts given at the time of supply are deducted, while later discounts are not considered for GST calculation. The GST rate depends on the product category, and the applicable rate—ranging from 5% to 28%—is added to the transaction value. This comprehensive value serves as the base for calculating GST, ensuring that all additional charges are accounted for in the final tax calculation.
To find the GST percentage applicable to a product or service, first identify its category under the GST rate slabs. GST in India is divided into four main slabs: 5%, 12%, 18%, and 28%. Essential goods often fall into lower slabs, while luxury items are taxed at higher rates. You can refer to the GST rate list provided by the government or check the invoice of the product or service, where the applicable GST rate will be mentioned. Additionally, GST calculators or official portals can help you verify the applicable rate for a specific good or service.
The online GST calculator lets you figure out either the gross or net price of a product based on the GST rate as a percentage. It saves time and makes it less likely that a person will make a mistake when figuring out the total cost of goods and services.
You can easily use the online GST calculator by doing the following:
- Enter the net price of a service or goods and the GST slabs, such as 5%, 12%, 18%, and 28%.
- Click on the "Calculate" button to see the final or gross price of goods and services.
GST calculation formula:
The calculator uses the below-mentioned formula to make it easy for businesses, manufacturers, wholesalers, and retailers to figure out GST:
Simple GST calculation
- Add GST:
GST amount = (Original cost x GST%)/100
Net price = original cost + GST amount - Remove GST:
GST amount = Original cost - [Original cost x {100/(100+GST%)}]
Net price = Original cost - GST amount
|
Rate (%) |
Original cost of goods |
|
GST |
18% |
Cost of goods sold |
|
GST calculation for manufacturers:
|
Rate (%) |
Pre- GST |
Cost of product |
|
10000 |
Excise duty |
12% |
1200 |
Profit |
10% |
1000 |
TOTAL |
|
12200 |
VAT |
12.50% |
1525 |
CGST |
6% |
Nil |
SGST |
6% |
Nil |
Final invoice to the wholesaler |
|
13725 |
At a cost of Rs.10,000, the manufacturer saves Rs.1405, which is equivalent to a 14% tax savings. This lowers costs for manufacturers, and the savings are eventually passed on to wholesalers, retailers, and consumers.
GST calculation for wholesalers and retailers:
|
Rate (%) |
Pre- GST |
Cost of product |
|
13725 |
Profit |
10% |
1373 |
TOTAL |
|
15098 |
VAT |
12.50% |
1887 |
CGST |
6% |
Nil |
SGST |
6% |
Nil |
Final invoice to the consumer |
|
16985 |
GST brings down the price of a product, so consumers pay less for goods even though wholesalers and retailers make the same amount of profit.
Calculating a reverse charge is not very different from figuring out GST. A reverse charge is when the person who buys the goods has to pay the GST instead of the person who sells them. In both situations, the tax is the same. For example, if you bought items worth Rs. 10,000. At 18%, the GST to be paid will be Rs. 1,800. If CGST and SGST are charged, each will cost Rs. 900. The only difference is that in a reverse charge, the tax amount, which in this case is Rs. 1,800, is due by the recipient.
To calculate GST on your bill, you need to first determine the GST rate applicable to the item(s) on your bill. Once you know the applicable rate, you can multiply the value of the item(s) by the GST rate to calculate the GST amount, and then add it to the total to get the final amount payable.
