Section 170. Rounding off of tax, etc.-

Important Keyword: GST, CGST, SGST, Section 170.

GST Section 170. Rounding off of tax, etc.-

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 this 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.

* Enforced w.e.f. 1st July, 2017.

Read More: Notification No. 16/2018 – Central Tax (Rate): Seeks to amend notification No. 14/2017- Central Tax (Rate) to notify that services by way of any activity in relation to a function entrusted to a municipality under Article 243W shall be treated neither as a supply of good nor a service.

Web Stories: Notification No. 16/2018 – Central Tax (Rate): Seeks to amend notification No. 14/2017- Central Tax (Rate) to notify that services by way of any activity in relation to a function entrusted to a municipality under Article 243W shall be treated neither as a supply of good nor a service.

Download Pdf: https://taxinformation.cbic.gov.in/