Rounding of commodities transaction values to the nearest unit adjusts tax, interest, penalty, and refunds under the tax rules. The value of a taxable commodities transaction and the amounts of commodities transaction tax, interest, penalty and refund under Chapter VII are rounded ... Summary
Rounding of commodities transaction values to the nearest unit adjusts tax, interest, penalty, and refunds under the tax rules.
The value of a taxable commodities transaction and the amounts of commodities transaction tax, interest, penalty and refund under Chapter VII are rounded to the nearest rupee; paise of fifty or more are increased to the next rupee and paise less than fifty are ignored.
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