GST Calculator Question

[jasimi]

Hey everyone,

I’m trying to understand how to use a GST calculator for my small business. I need to know how to calculate the GST inclusive and exclusive prices correctly.

If I have an item priced at $100, how do I determine the GST amount and the total price including GST?

Also, what if I already have the total price including GST, how do I find out the original price before GST was added?

Any tips or recommended calculators would be greatly appreciated.

 

[Riberet19]

Hey everyone,

I’m trying to understand how to use a GST calculator for my small business. I need to know how to calculate the GST inclusive and exclusive prices correctly.

If I have an item priced at $100, how do I determine the GST amount and the total price including GST?

Also, what if I already have the total price including GST, how do I find out the original price before GST was added?

Any tips or recommended calculators would be greatly appreciated.

Write down the price paid by the final consumer and identify the net price (the price before GST).

Divide the gross price (the price paid by the consumer, which includes GST) by the net price, subtract one, and multiply by 100%. This will give you the GST percentage.

You can check your calculation using the GST calculator tool in Omnicalculator.com.