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★ how will you calculate taxable value of service
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Verified answer
Explanation:
About Finology GST Calculator
WHAT IS GST. ...
HOW TO CALCULATE GST? ...
For this purpose, let us take an Example: ...
Outward Supply: Mr. ...
Reverse Calculation of GST from Invoice Value. ...
[100 X (Tax Rate/ 100+Tax Rate)]
i.e., GST= [100 x (18/118)] = Rs. ...
Taxable Value i.e., value exclusive of GST = Rs.100 - Rs.15.254 =Rs.84.745.
More items...
Select CALCULATE GST to get the results.
5. Evaluate Results.
GST Exclusive: Since the amount is exclusive of GST, Enter Taxable value here i.e., the actual price of the product without GST. It will give you the GST amount & POST-GST amount i.e., after adding the GST.
GST Inclusive: Since this amount is inclusive of GST, enter the Invoice value here i.e., the price of the product after adding GST. It will give you the GST amount & PRE-GST amount i.e., after deducting the GST.