Rounding of tax amounts: fractions of a rupee meeting the statutory mid-point are rounded up, smaller fractions are ignored. Rounding under the GST framework applies to tax, interest, penalties, fines and other sums payable, and to refunds and other sums due; fractional parts of ... Summary
Rounding of tax amounts: fractions of a rupee meeting the statutory mid-point are rounded up, smaller fractions are ignored.
Rounding under the GST framework applies to tax, interest, penalties, fines and other sums payable, and to refunds and other sums due; fractional parts of a rupee at the statutory midpoint are increased to the next whole rupee, while fractions below that midpoint are ignored.
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