GST calculation, To calculate the amount of GST that is include in total receipts, you need to follow these steps:
1.Identify the rate of GST applicable to your business.
The rate can be 5%, 12%, 18%, or 28%, depending on the type of goods or services you provide.
2. GST calculation amount that needs to be added to the base price of your goods or services.
To accomplish this, multiply the base price by the relevant GST rate. For example, if your base price is Rs. 1,000 and the applicable GST rate is 18%, the GST amount will be Rs. 180 (i.e., 1,000 x 18%).
3.Add the GST amount to the base price to get the total price of your goods or services.
In the above example, the total price would be Rs. 1,180.
4.To calculate the amount of GST included in the total receipts, simply subtract the base price from the total price.
In the above example, the GST amount included in the total receipts would be Rs. 180.
Therefore, to calculate the amount of GST that is included in total receipts, you need to subtract the base price from the total price of your goods or services. This will give you the amount of GST that has been charge to your customers and included in your total receipts.
To visit: https://www.gst.gov.in/
