GST Calculation Formula:
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GST (Goods and Services Tax) is an 18% tax applied to goods classified under C HSN codes in India. HSN (Harmonized System of Nomenclature) is a standardized system for classifying goods for taxation purposes.
The calculator uses the GST formula:
Where:
Explanation: The calculation is straightforward - multiply the base price by 18% to get the GST amount.
Details: Accurate GST calculation is crucial for proper tax compliance, invoicing, and financial planning for businesses in India.
Tips: Enter the base price in INR and the C HSN code. The calculator will automatically compute the GST amount and total price including GST.
Q1: What are C HSN codes?
A: C HSN codes are classification codes for goods that attract 18% GST under the Indian tax system.
Q2: Is GST always 18% for C HSN codes?
A: Generally yes, but always verify the current GST rate for your specific HSN code as rates may change.
Q3: How to find my product's HSN code?
A: Check the GST portal or consult the official HSN code list published by the Indian government.
Q4: Can this calculator be used for other GST rates?
A: This calculator is specifically for 18% GST on C HSN codes. Other rates (5%, 12%, 28%) would require modification.
Q5: Is GST calculation different for services?
A: Yes, services use SAC (Services Accounting Code) instead of HSN codes, though the calculation method is similar.