GST India Forum – Goods and Services Tax | Place for Experts › Forums › Bare Law › Section 160- Rounding off of tax etc
- Madrecha and CoParticipantDecember 17, 2016 at 5:46 PMPost count: 202Topics: 202
Been thanked: 0 times
The amount of tax, interest, penalty, fine or any other sum payable, and the amount of refund or any other sum due, under the provisions of the Act shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise then, if such part is fifty paise or more, it shall be increased to one rupee and if such part is less than fifty paise it shall be ignored.
You must be logged in to reply to this topic.