gst practitioner course
- 1. Multiply the full GST inclusive price by 3 then divide that result by 23. The end result will be the GST amount. The above formula is the Inland .Revenue recommended method of calculating the GST content of a GST inclusive amount. Goods & Services Tax in New Zealand changed from 12.5% to 15% on 1 October 2010.
- 2. To figure out how much GST was included in the price you have to divide the price by 11 ($220/11=$20); To work out the price without GST you have to divide the amount by 1.1 ($220/1.1=$200) To calculate the sales tax that is included in a company's receipts from items subject to sales tax, divide the receipts by 1 + the sales tax rate. For example, if the sales tax rate is 6%, divide the total amount of receipts by 1.06. If the sales tax rate is 7.25%, divide the total receipts by 1.0725.
- 3. GST is a consumption based tax levied on sale, manufacture and consumption on goods & services at a national level. ... State GST (SGST) Which will be levied by State. Integrated GST (IGST) – which will be levied by Central Government on inter-State supply of goods and services
- 4. The GST is a Value added Tax (VAT) is proposed to be a comprehensive indirect tax level on manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect taxes levied on goods and services by the Indian Central and state governments.
- 5. INSTITUTTE OF COMPANY ACCOUNTANTS: 239/1 Rohini Flats, Anna Nagar West Extension, Chennai - 600 101. Phone : 7550075215 Email : icainstitutepadi@gmail.com