gst practitioner 

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