How to Calculate GST 2022? - PublicCalculators

What is GST?

GST stands for Goods and Services Tax. However, to calculate GST, you must know the GST rates. If you are running a business, you may collect the goods and services tax from your customers for supplying goods. However, GST rates vary from country to country as for New Zealand; it is different and different for others; they may be zero in certain circumstances..

However, GST is a payable tax that applies to many products. You must pay this tax to your supplier when you buy something for your business. There are many ways to calculate the GST amount, but we will describe the easiest way to calculate it. Let’s dive into the calculations.

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Amount

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Net Amount

GST Amount

How to Calculate GST (Remove GST Amount GST Inclusive)?

GST Inclusive amount contains the amount in which the GST rate is applied, if you are worried about whether the GST amount added is correct or not, don’t worry we are going to provide the manual way to find your net amount in which you will quickly get the GST amount and your net amount.

Calculating GST Part

To get the GST part of the GST inclusive amount you need to divide the GST inclusive amount by (100+GST rate) and multiply by the GST rate.
Let’s suppose we have GST inclusive amount is $600 and the GST rate is 8%.
(600÷100+8)*8=$44.44

Calculating Net Amount

To get GST exclusive amount while knowing GST inclusive value you need to multiply GST inclusive price by 100 and then divide the result by (100+GST rate).
Let’s suppose we have GST inclusive amount is $600 and the GST rate is 8%.
(600*100)÷108=$555.56

Example

Let’s suppose the GST inclusive amount of $250 and the GST ratio is 4%
To get GST inclusive amount these are the simple steps to work out

Calculating GST Part
(250/104)*4=$9.62
Net Value
(250*100)/104=$240.38

How to Add GST Amount to get GST inclusive?

To add the GST amount, multiply the Exclusive amount by (GST rate ÷ 100+1).

Step-1

Let’s assume we have a GST exclusive amount of $100 and the GST rate is 5% we have to calculate the GST inclusive these are the following steps to perform