In Australia, the GST is a VAT [value added tax] of 10% on most goods and services sales. Under the act all such business whose turnover is more than $75,000 per annum should register for GST. There are discussions to increase GST rate to 15% however that has been not been given much support by the parties.
GST Tax calculator makes tax calculation under GST easy and accurate. Submitting Business Activity Statements (BAS) is a quite a time taking task but this GST calculator will make it easy for you.
Explanation of the GST Calculation FormulaAdd GST
GST Amount = ( Original Cost * GST% ) / 100
Net Price = Original Cost + GST Amount
GST Amount = Original Cost - ( Original Cost * ( 100 / ( 100 + GST% ) ) )
Net Price = Original Cost - GST Amount
Example: A product is sold from place A to Place B at the rate of Rs.2000. GST rate is 10 %. What is the net price?
= 2000 x (10 / 100)
Hence the net price is 2000 + 200 = 2200$
Original Cost: 3000 $
GST %: 10
GST Price: 300 $
Net Price: 3300 $
Tax Calculator India under GST With Example
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