Rounding off of tax, etc

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Central Goods and Service Tax Act, 2017

Rounding off of tax, etc (Sec. 170)


The amount of tax, interest, penalty, fine or any other sum payable, and the amount of refund or any other sum due, under the provisions of this Act shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise, then, if such part is fifty paise or more, it shall be increased to one rupee and if such part is less than fifty paise it shall be ignored.

Notes

  • This section provides for rounding off of tax, interest, penalty, fine or any other sum payable and the amount of refund or any other sum due.

Also Read  Manner of Recovery of Credit Distributed in Excess
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