GST Calculator: Understanding Goods & Services Tax
GST (Goods and Services Tax) is an indirect tax used in India on the supply of goods and services. It is a comprehensive, destination-based tax.
Exclusive GST
GST is charged over and above the product price.
Total = Cost + GST
Inclusive GST
Product price already includes the GST component.
Cost = Total - GST
Tax Components
CGST (Central) + SGST (State) = Total GST Rate.
Current GST Rate Slabs (2024)
- 5%: Household necessities like edible oil, sugar, spices, tea, coffee.
- 12%: Computers, processed food, mobile phones.
- 18%: Capital goods, industrial intermediaries, hair oil, soap, toothpaste.
- 28%: Luxury items like ACs, refrigerators, high-end cars.