![]() ![]() ![]() The principle of operation of gst and vat is similar. Gst is also known as vat (value added tax).It may also happen that one country has several different GST rates. When issuing an invoice or calculating the GST for your own needs, remember that the GST rates in different countries are different.You can download free GST calculator template here Things to remember In the example below, the Excel formula is: =B6/(1+B5) Price without gst = price including gst / (1 + gst rate) To calculate a gst-free price, you need a gst-inclusive price. In the example below, the Excel formula is: =B3+(B3*B5). Price including gst = price without gst + (price without gst * gst rate) To calculate the price containing gst, use this formula: To calculate an amount that includes gst, you need an amount without gst. In the case I am discussing, you should use the formula =B4/B3 Calculation of the price including gst GST rate = GST amount / price excluding GST If you know the amount of gst and the price of the goods excluding tax, then you should use the following formula: In my case, it will be the formula =(B6-B3)/B3 Calculating the gst rate based on the tax amount and the price of the goods GST rate = (price with gst - price without gst) / price without gst If you know the price of an item including tax and price excluding tax, use the following formula: Calculation of the gst rate based on the price of the commodity In case you want to calculate the GST tax rate, you have two options. The formula is = B3 * 0.15, but you can also write it as = B3 * B5 because I entered the tax rate in cell B5.Ĭalculations show that the gst amount is $18. In my table, the amount before taxes is in cell B3. Note: the GST amount has to be in form of percentage, and use only between 0.0 to 1. We are going with 15%, and therefore writing = B3 * 0.15 GST amount = amount before gst * gst rateĬlick on the column beside GST amount, and decide the rate you would like the GST to be. The formula for calculating the gst tax is: ![]() You should first layout the price before the GST. In this Excel lesson, let's create a GST calculator and calculate each of these values. Calculating GST is going to be made easy, with these simple steps. ![]()
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