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Taxable value=₹780 or GST is 18%,what it's the price of the customer object |
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Answer» Add GST: GST AMOUNT = (ORIGINAL Cost x GST%)/100 Net Price = Original Cost + GST Amount Remove GST: GST Amount = Original Cost - [Original Cost x {100/(100+GST%)}] Net Price = Original Cost - GST Amount Example of GST Calculation In CASE a product is sold for Rs.2,000 and the GST rate applicable to it is 12%, then net price of the product will be Rs.2,000 + 12% of Rs.2,000 = Rs.2,000 + Rs.240 = Rs.2,240. Tax Calculation under GST System Under the GST REGIME, manufacturers and dealers can benefit from input tax credit. Below is an example to show the difference in the amount of tax payable under the old tax system and the GST system:Step-by-step EXPLANATION: |
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