Provisions under Section 170 of the CGST Act 2017 relating to “Rounding Off of Tax, etc.”:
Section 170: Rounding Off of Tax, etc. (CHAPTER XXI: MISCELLANEOUS) [*1]
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.
Notes (History of Amendments in Bare Text):
1. CGST Section 170 introduced vide GOI Notification dated 12/04/2017, followed with CBEC Notification 9/2017 on commencement date of 01/07/2017.
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