Rounding off of tax mandates nearest-rupee rounding for amounts payable and refundable under GST transactions. Every amount of tax, interest, penalty, fine or any other sum payable, and every amount of refund or other sum due, shall be rounded to the nearest rupee; ... Summary
Rounding off of tax mandates nearest-rupee rounding for amounts payable and refundable under GST transactions.
Every amount of tax, interest, penalty, fine or any other sum payable, and every amount of refund or other sum due, shall be rounded to the nearest rupee; where the paise component is fifty paise or more it shall be increased to one rupee, and where it is less than fifty paise it shall be ignored.
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