What is GST?
Goods and Services Tax (GST) is an indirect tax used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax levied on every value addition.
The GST Calculation Formula
Adding GST: GST Amount = (Original Cost × GST %) / 100. Net Price = Original Cost + GST Amount.
Removing GST: GST Amount = Original Cost - [Original Cost × {100 / (100 + GST %)}]. Net Price = Original Cost - GST Amount.