Question 1

What is the difference between GST Inclusive and Exclusive?

Accepted Answer

GST Exclusive means the tax percentage is added to the base price of the item. GST Inclusive means the tax percentage is already pre-included inside the items retail pricing.

Question 2

How do you calculate tax-inclusive base price?

Accepted Answer

To remove the included GST from a price: Base Price = Retail Price / (1 + (GST % / 100)). The tax amount itself equals the Retail Price minus the calculated Base Price.