Add GCT to a price step by step
- Price excl. GCT:
- $0.00
- GCT 15%
- $0.00
- Total incl. GCT:
- $0.00
How to calculate GCT in Jamaica step by step (10%, 15%, 25%)
This guide explains how to add GCT manually and how to check the result using the calculator.
In some shops or web portals, you may see prices with the comment "GCT not included". This means that it is not the final price, and you will have to add GCT to the amount to get the total to pay.
Formula to calculate GCT on a price without GCT
To calculate the GCT in this case, the following formula should be used:
Practical example of GCT calculation at 15%
That is, if you have a product whose value is $260 without GCT and with a 15% GCT rate, the formula would look like this:
The product price must be multiplied by the GCT percentage, and that number divided by 100. In this case, it would give $39. So the GCT amount would be $39.
Another alternative would be to divide 15% by 100, resulting in 0.15, and multiply this by $260, resulting in $39 in the same way.
Finally, to add GCT to a price, add the base price of the product, for example, $260, plus the calculated GCT of $39, giving a final result of $299.
Example of reduced GCT calculation (10%)
In the case of a product with a price of $260 without GCT to which the reduced GCT of 10% is applied, the formula allows calculating the corresponding tax for certain goods and services that have a lower taxation than the standard rate.