How to use a GST calculator for managing business loan finances
This is where a GST calculator steps in to save the day. This helpful tool takes the stress out of tax calculations, making it easier to focus on what matters—growing your business. Whether you are gearing up for expansion or managing everyday expenses, a GST calculator will provide clarity to make smarter decisions. Pairing this clarity with financial support such as a Bajaj Finserv Business Loan can help unlock growth opportunities for your business.
Simplifying GST calculations
The GST system, implemented in 2017, replaced multiple taxes with a streamlined structure, introducing rates ranging from 5% to 28%. Calculating GST manually can be tedious and prone to errors, but tools such as the Bajaj Finserv GST Calculator ensure speed and accuracy.
How to use a GST calculator:
- Select your role: Choose if you are a buyer or manufacturer/retailer.
- Enter relevant details:
- If you are a buyer, enter the net price and applicable GST rate.
- If you are a manufacturer, enter the cost of production, profit percentage, and GST rate.
3) Get results: The tool calculates GST amount, including CGST, SGST, or IGST, and displays the total cost. For example:
If your production cost is ₹50,000 with a profit margin of 20% and an 18% GST rate, the GST calculator will give you:
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