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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Section 37D in Central Excises Act: All Duties and Refunds Rounded to Nearest Rupee.</h1> In the Central Excises and Salt Act, 1944, a new section, 37D, is introduced by the Finance Act, 1990. This section mandates the rounding off of any duty, interest, penalty, fine, or other sums payable, as well as refunds or other sums due under the Act, to the nearest rupee. Specifically, any amount containing paise is rounded up to the next rupee if it is fifty paise or more, and disregarded if less than fifty paise.
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