GST Quick Reference

With the implementation of the GST regime, India is all set to undergo the biggest tax transformation in recent history and businesses across verticals are bracing themselves to become GST compliant. GST is a comprehensive, multi stage, destination based, value added taxing system and as it is new, businesses need to be aware about the changes being brought by the GST regime and how it affects them.

Pocket GST mobile app is a quick reference guide for GST and its features facilitate a quicker understanding of the GST regime.

Salient features of the App

Code Finder: HSN Code / SAC code finder

In the GST regime, each invoice will have to mention HSN (Harmonized System of Nomenclature) code for each merchandise sold and SAC (Service Accounting Codes) code for each service provided. Every business will have to declare the list of goods and services they are dealing into. Based on keywords in relation to your commodity /service code finder will help you to locate your commodity HSN / SAC code.

Sometimes you may need to check codes for those commodities which you don’t deal in regular basis, you can search HSN Code / SAC Code for such Goods / Services.

Tax calendar

The tax calendar is a quick reference ready reckoner calling out important dates and actions to be executed before the mentioned dates.

Rate based Calculators

Our rate based calculator helps you calculate the base price, tax and total amount.

This calculator can be used in two ways

Calculate tax

Using this option enter the base price and the tax rate, the calculator will display the tax and the amount (base price+tax)

Calculate base price

Here you can enter the final price and the tax rate, the calculator will display Tax and the base price (amount – tax)

Margin Calculator / Product Calculator

The Margin calculator is a very innovative tool which helps you make important decisions about your selling cost.

Calculate the margin per sale

You can calculate the margin you make per sale simply by entering the purchase cost and selling cost along with their respective tax rate. The app calculates the input and output GST, and displays the payable tax amount, the expense incurred (purchase cost+payable tax) and your margin (selling cost-expense incurred)

Calculate the selling cost

Using this calculator, you may decide your selling cost either based on the amount you want to make as your margin or by defining percentage margin.

Enter the purchase cost along with the input GST(%) and output GST(%).

Here the calculator offers you to choose either the margin you want to make in Rupees or the Percentage. Based on your inputs, the calculator will display the payable GST and the selling cost for you to achieve the desired margin.

VAT to GST calculator

The VAT to GST calculator is a tool which will help you, during the initial transition from VAT to GST regime, to calculate the item Cost (base price+tax). All you have to do is enter the VAT regime Cost along with the VAT rate(%) and the new GST tax rate(%) as applicable. The app will calculate the original base price of the product and recalculate the new Cost as per new GST rate. This calculation assumes that the base price of the product remains unchanged.

GST FAQs and Exemptions

For your convenience, the app also allows you to browse through the GST related FAQs issued by the GSTN which have been preloaded onto the app.