The global sales tax for Bc is calculated from provincial sales tax (PST) BC rate (7%) and the goods and services tax (GST) in Canada rate (5%) for a total of 12%.
Amount with sales tax / (1+((GST and PST rate combined)/100)) = Amount without sales tax
Amount with sales taxes x (GST rate/100) = Amount of GST in BC
Amount without sales taxes x (PST rate/100) = Amount of PST in BC
1000$ / (1+((5+7)/100))
1000$ / 1.12 = 892.86$
892.86$ x (5/100) = 44.64$ (GST)
892.86$ x (7/100) = 62.50$ (PST)
There are circumstances when you are needed to find how much sales tax customer has really paid on a goods and services or you might need to check the exactness of the sales tax indicated on your product’s receipt. This is the place the Reverse Sales Tax Calculation used. Also, fortunately, our Reverse Sales Tax Calculator British-Columbia can carry out this calculation like a Pro.
Our calculator computes the original cost of a product given the sales tax rate and the final cost. It can also calculate the total sales tax given the starting amount and final amount. So the calculation should be done easily while filing a return in any case, the resident should know about the necessary tax while filing. For this, the Reverse GST/PST calculator will be important. It doesn’t spend time and no blunder can be caused, looking at the manual calculation. You can calculate GST/PST on the free online sale tax calculator in British-Columbia.
Reverse Sales tax will be appropriate in the circumstance when a retailer who has not applied for GST/PST, supplies products to the person who is registered under GST/PST, for this situation, Reverse Sales tax calculator will be applied. Here the collector will pay the tax legally to the government rather than the provider who isn’t registered under GST/PST. The retailer who is enrolled under sales tax and has to pay reverse tax should make his own receipt for the bought products and services.
It is very simple to calculate GST/PST with the help of this calculator in British-Columbia.
Following are the steps of how to calculate GST/PST online: