Basic Question - Calculating GST amount to be paid

varad (NA) (63 Points)

18 April 2020  

Hi  Friends.

Pls.forgive me as I am asking a very basic question - I want to know how to calculate GST amount to be paid as per sale /purchase .

Pls. correct me if I am wrong --

GST amount to be paid = Output GST --Input GST.

CGST =OCGST -IGST 

SGST = OSGST -IGST

For example --        My Service Invoices (output)GST amount is  CGST 10000 SGST 10000 & Purchase Amount is (Input ) --  CGST - Rs 500 , SGST Rs.500  , IGST -- 500

Then My Tax calculation will be -   

CGST ----  Rs10000 - Rs.500 (IGST) - CGST Rs,500 (input) = Rs 9000

SGST  --- Rs. 10000 - Rs.500 (input) = Rs 9500

Total GST to be paid -- Rs.18500

Is it good Idea to make excess payment ? Sometime small amount to be paid is reflected due to interest .Some excess amount might compensate for the difference. however I have been discouraged to do so .