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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.