
GST is known as Goods and Service Taxes. It is a value-added tax levied by the government on various goods and services for domestic consumption. GST can be calculated using the original amount price and GST percentage. The GST percentage is calculated based on the types of goods and services. Let us learn how to convert 18 GST in rupees using a simple formula.
Highlights:
- Introduction to GST: GST, or Goods and Services Tax, is a value-added tax imposed by the government on goods and services consumed domestically, replacing various indirect taxes.
- Calculation Method: GST can be calculated using a simple formula involving the original price of the product/service and the applicable GST percentage.
- Classification of GST: GST rates vary based on the type of goods and services, with major classifications including 0%, 5%, 12%, 18%, and 28%.
- Formula for Conversion: The formula to convert GST into rupees involves multiplying the original amount by the GST rate and dividing by 100.
- Examples and Applications: Examples illustrate how to calculate GST amount and determine the final price, providing practical insights into GST calculations.
| Formula to convert 18 GST in Rupees |
| Amount of GST = Original Amount x GST Rate / 100 |
| GST Calculation: 18 GST in Rupees | ||
| Particulars | Rate (%) | Amount (in INR) |
| Total Invoice Value | 18% | 3,456 |
| GST Amount | 622.08 | |
| Final Price | 4078.8 | |
| List of 18 GST Rates in India | |
| Product | Tax Rate |
| Milk | 0% |
| Eggs | 0% |
| Curd | 0% |
| Lassi | 0% |
| Kajal | 0% |
| Education Services | 0% |
| Health Services | 0% |
| Children's Drawing & Colouring Books | 0% |
| Unpacked Foodgrains | 0% |
| Unpacked Paneer | 0% |
| Gur | 0% |
| Unbranded Natural Honey | 0% |
| Fresh Vegetables | 0% |
| Salt | 0% |
| Unbranded Atta | 0% |
| Unbranded Maida | 0% |
| Besan | 0% |
| Prasad | 0% |
| Palmyra Jaggery | 0% |
| Phool Bhari Jhadoo | 0% |
| Products | Tax Rates |
| Sugar | 5% |
| Tea | 5% |
| Packed Paneer | 5% |
| Coal | 5% |
| Edible Oils | 5% |
| Raisin | 5% |
| Domestic LPG | 5% |
| Roasted Coffee Beans | 5% |
| PDS Kerosene | 5% |
| Skimmed Milk Powder | 5% |
| Cashew Nuts | 5% |
| Footwear (< Rs.500) | 5% |
| Milk Food for Babies | 5% |
| Apparels (< Rs.1000) | 5% |
| Fabric | 5% |
| Coir Mats, Matting & Floor Covering | 5% |
| Spices | 5% |
| Agarbatti | 5% |
| Coal | 5% |
| Mishti/Mithai (Indian Sweets) | 5% |
| Life-saving drugs | 5% |
| Coffee (except instant) | 5% |
| Butter | 12% |
| Ghee | 12% |
| Computers | 12% |
| Processed food | 12% |
| Almonds | 12% |
| Mobiles | 12% |
| Fruit Juice | 12% |
| Preparations of Vegetables, Nuts Fruits, or other parts | 12% |
| Packed Coconut Water | 12% |
| Umbrella | 12% |
| Hair Oil | 18% |
| Capital goods | 18% |
| Toothpaste | 18% |
| Industrial Intermediaries | 18% |
| Soap | 18% |
| Ice-cream | 18% |
| Pasta | 18% |
| Toiletries | 18% |
| Corn Flakes | 18% |
| Soups | 18% |
| Computers | 18% |
| Printers | 18% |
| Small cars (+1% or 3% cess) | 28% |
| High-end motorcycles (+15% cess) | 28% |
| Consumer durables such as AC and fridge | 28% |
| Luxury & sin items like BMWs, cigarettes, and aerated drinks (+15% cess) | 28% |
Example 1: If the total original amount is Rs. 2065, excluding the GST 18%, then what is the Total Price?
Solution: Use the simple formula to calculate the GST amount.
Original Price = 2065 GST Rate = 18% GST Amount = Original Price x GST Rate/100 GST Amount = 2065 x 18/100 = 371.7 Actual Price = 2436.7 INRExample 2: If the total amount of a product is Rs 1500 including GST rate of 18%. Find the original price of the product.
Solution: We can use the formula given below to calculate the actual price after deducting the GST amount.
Actual Price = Total Amount / (1+ GST Rate) = 1500 / (1 + 0.18) = 1500/1.18 = 1271.18 INR Therefore, the actual price of the product after removing GST is 1271.18 INR.