Rounding of Tax Amt in GST Invoice



Following is a illustration of a Pharmacy Retail Invoice

Format 1 is without rounding the Tax Amount but GST Return permits only 2 decimal place for SGST/CGST/IGST

Format 2 is after rounding the Tax Amount

Which format should be used for GST Invoice ?

 

Format 1 : Without rounding the Tax Amt

            GST 12%  
               
No Item Name Qty Unit Rate Net_Amt Tax Amt Gross Amt
1 Dart 2 Tab 0.30 0.60 0.0720 0.6720
2 Ranitidine 5 Tab 0.46 2.30 0.2760 2.5760
3 Omeprazole 20 mg 2 Tab 0.78 1.56 0.1872 1.7472
4 Hall’s Honey-Lemon 1 Tab 0.10 0.10 0.0120 0.1120
            0.5472 5.1072
Format 2 After rounding the Tax Amt            
            GST 12%  
               
No Item Name Qty Unit Rate Net_Amt Tax Amt (Rounded) Gross Amt
1 Dart 2 Tab 0.30 0.60 0.07 0.67
2 Ranitidine 5 Tab 0.46 2.30 0.28 2.58
3 Omeprazole 20 mg 2 Tab 0.78 1.56 0.19 1.75
4 Hall’s Honey-Lemon 1 Tab 0.10 0.10 0.01 0.11
            0.55 5.11

 

 

 
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Team GST Experts

two decimal is relevant

 
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GST Advisor

Yes 

Two Decimal is Relevant

 
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