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SGST & CGST Round off

Raj Jain (72 Points)

21 July 2017

If for example
sale value is 132050
GST on it is 5%
i.e
SGST 2.5% 3301.25
CGST 2.5% 3301.25
can Both SGST and CGST be rounded off to 3301+3301 respectively?

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11 Replies

Deepak (Account) (36 Points)
Replied 21 July 2017

no u can't round off.

RAJA P M ("Do the Right Thing...!!!") (127146 Points)
Replied 21 July 2017

Originally posted by : Raj Jain
	If for examplesale value is 132050GST on it is 5%i.e SGST 2.5% 3301.25CGST 2.5% 3301.25can Both SGST and CGST be rounded off to 3301+3301 respectively?

Ass. Value - 132050

CGST - 3301.25

SGST - 3301.25

Total = 138652.50

R.Off - 0.50

Total = 138653

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Ravi SADhiyan (Practice) (4510 Points)
Replied 21 July 2017

You can round off

if in your bill 0.40 than considered Zero

If in your bill 0.56 than considered 1

NITIN KOTAK (SERVICE) (1465 Points)
Replied 21 July 2017

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.