GST (Goods and Services Tax) and VAT (Value Added Tax) are consumption taxes levied on the value added to goods and services at each stage of production or distribution. These taxes are ultimately borne by the end consumer.
To calculate the total cost including GST/VAT, you can use the following formula:
Total Cost = Original Price + (Original Price × (Tax Rate / 100))
For example, if an item's original price is $100 and the GST rate is 10%, the total cost would be $110 ($100 + ($100 × 0.10)).
Use our GST/VAT Calculator to quickly determine the total cost after accounting for GST/VAT.