What is Net Price ?
Net Price refers to the price of a product or service excluding the Goods and Services Tax (GST). In other words, it's the base price of an item before any taxes are added. When one sees a price listed as the "net price in GST," it means that the price shown is the amount one would pay for the product or service before the GST is applied. It's essentially the price of the item itself without considering any taxes. For example, if one see a product advertised with a net price in GST of $100 and the GST rate is 10%, it means that the actual total amount one would pay for the product, including GST, would be $100 plus 10% of $100, which is $10, making the total price $110. Understanding the net price in GST is important for consumers to know exactly how much they're paying for the product itself before taxes are added. It also helps businesses to clearly communicate the base price of their goods or services.
How to Calculate Net Price?
Net Price calculator uses Net Price = Cost of Product+Gst Amount to calculate the Net Price, Net Price is the price that the buyer pays for the product or service, not including the GST. Net Price is denoted by NP symbol.
How to calculate Net Price using this online calculator? To use this online calculator for Net Price, enter Cost of Product (CP) & Gst Amount (GT) and hit the calculate button. Here is how the Net Price calculation can be explained with given input values -> 2040 = 2000+40.