WebApr 13, 2024 · The GST demand is calculated by subtracting the input GST from the output GST. If the output GST is higher than the input GST, the difference must be paid to the government, and if the input GST is higher than the output GST, the person or entity is eligible for a refund. WebFeb 4, 2024 · Tax Liability for Rs 12.5 Lakh Annual Income in FY 2024-24: For Income upto Rs 12.5 lakh, the total tax liability will be Rs 1,04,000 in AY 2024-25 under New Tax Regime. Tax Liability for Rs 15 Lakh Annual Income in FY 2024-24: For Income upto Rs 15 lakh, the total tax liability will be Rs 1,56,200 in AY 2024-25 under New Tax Regime.
How to☝️ Calculate GST in Excel - Spreadsheet Daddy
WebFeb 2, 2024 · For calculation of the threshold limit, the value of taxable supplies excluding the zero-rated supplies needs to be considered. However, for the purpose of payment of tax liability, 1% of the total output tax needs to be disbursed in cash. radio 1200 am boston
GST Liability paid percentage – Calculation methodology
WebOct 1, 2024 · Calculation of tentative estate tax. The gross estate tax, which is the estate tax before credits, is calculated by taking the tentative estate tax less gift taxes paid (after 1976) (Sec. 2001 (b)). In Example 1, assume that the decedent didn't pay any gift taxes after 1976. The gross estate tax would be $3,945,800. WebMar 24, 2024 · Since it is an intra-state supply, GST gets deposited to both Central and State Governments. But the total GST amounting to Rs 18,000 gets deposited equally into separate heads. This means Rs 9,000 gets deposited into the CGST account. And another Rs 9,000 gets deposited into SGST head. Inter-State Supply Web13 hours ago · Under the new tax regime, an individual can enjoy zero tax liability if their taxable income does not exceed Rs 7 lakh in a financial year. Additionally, an individual with a taxable income of up to Rs 7.5 lakh can claim a standard deduction of Rs 50,000 to bring down their taxable income to Rs 7 lakh and avoid paying any taxes. download programa positivo tv