gst_calc
Table of Contents
Tax to be charged under GST
| Name | Under | Remarks |
|---|---|---|
| GST | Goods and Services Tax | |
| Supply within the State | GST | Local Supply |
| Supply beyond the State | GST | Interstate Supply |
| CGST + SGST | Supply within the State | Central GST + State GST |
| CGST + UTGST | Supply within the State | Central GST + Union Territory GST |
| IGST | Supply beyond the State | Integrated GST |
For Local Supply in Karnataka with GST rate of 12%, make an invoice as follows:-
Taxable Value = 1000 CGST @ 6% = 60 KGST @ 6% = 60 Total Value = 1120
For Interstate Supply from Karnataka with GST rate of 12%, make an invoice as follows:-
Taxable Value = 1000 IGST @ 12% = 120 Total Value = 1120
GST - 5% Tax Rate - MRP - Discount
| Description | Amount | Remarks |
|---|---|---|
| M.R.P Value | 500 | |
| Discount @ 10% | 50 | |
| Net Value | 450 | |
| Special Discount @ 4.76% | 22 | (Always Round Off to Even Value) |
| Taxable Value | 428 | |
| CGST @ 2.5% | 11 | |
| KGST @ 2.5% | 11 | |
| Grand Total | 450 |
GST - 12% Tax Rate - MRP - Discount
| Description | Amount | Remarks |
|---|---|---|
| M.R.P Value | 3000 | |
| Discount @ 10% | 300 | |
| Net Value | 2700 | |
| Special Discount @ 10.71% | 290 | (Always Round Off to Even Value) |
| Taxable Value | 2410 | |
| CGST @ 6% | 145 | |
| KGST @ 6% | 145 | |
| Grand Total | 2700 |
GST Accounting Ledgers
| Sales @ | 0% | 5% | 12% | 18% | 28% | 5 Ledgers |
| CGST @ | 2.5% | 6% | 9% | 14% | 4 Ledgers | |
| KGST @ | 2.5% | 6% | 9% | 14% | 4 Ledgers | |
| IGST @ | 2.5% | 6% | 9% | 14% | 4 Ledgers | |
| Total | 17 Ledgers | |||||
| Purchases @ | 0% | 5% | 12% | 18% | 28% | 5 Ledgers |
| CGST @ | 0.0% | 0% | 0% | 0% | 4 Ledgers | |
| KGST @ | 2.5% | 6% | 9% | 14% | 4 Ledgers | |
| IGST @ | 2.5% | 6% | 9% | 14% | 4 Ledgers | |
| Total | 17 Ledgers | |||||
| Total GST | Total | 34 Ledgers |
gst_calc.txt · Last modified: 25-Dec-2017 12:58 pm by M V Jain
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