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of <h1>Circular on Rounding Off Service Tax to Nearest Rupee u/s 37-D Rescinded in 2007.</h1> The circular dated March 27, 2003, addresses issues faced by service providers in rounding service tax amounts to the nearest rupee. It refers to Section 37-D of the Central Excise Act, 1944, applicable to service tax via Section 83 of the Finance Act, 1994, which mandates rounding off tax amounts to the nearest rupee. Amounts with fifty paise or more are rounded up, while amounts less than fifty paise are ignored. The circular advises issuing trade notices for awareness and notes that it has been rescinded by a subsequent circular dated May 10, 2007.
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