how to adjust gst,in case of the input gst is less and output gst is more, on the other hand the input gst is more and output is less
Answers
Explanation:
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Answer:
GST calculation can be explained by simple illustration : If a goods or services is sold at Rs. 1,000 and the GST rate applicable is 18%, then the net price calculated will be = 1,000+ (1,000X(18/100)) = 1,000+180 = Rs. 1,180
What are the types of GST?
Currently, the types of GST in India are CGST, SGST and IGST. This simple division helps distinguish between inter- and intra-state supplies and mitigates indirect taxes. To learn more, read about these 3 different types of GST.
Types of GST in India- CGST, SGST & IGST
How do I calculate GST?
The formula for 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.