I am giving example : ...
1) Taxable Value Rs. 54670/- @ GST 18% = Rs. 9840/60 -----------------
CGST 9% = Rs. 4920/30 = Round off Rs. 4920/- ---------------------
SGST 9% = Rs. 4920/30 = Round Off Rs. 4920/- ---- Total Rs. 9840/- >>> i.e. 60 paise shortage as per Total 18%
2) Taxable Value Rs. 54670/- @ GST 18% = Rs. 9840/60 = Round off Rs. 9841/- ---
CGST 9% = Rs. 4920/30 = Round off Rs. 4921/-
SGST 9% = Rs. 4920/30 = Round off Rs. 4921/- ---- Total Rs. 9842/- >>>>> i.e. Rs. 1/- excess as per total 18%
Question : Where is require to Round off at Gross GST 18% OR at break up 9% & 9% ---
Also let me know what formula is correct between above ---- No. 1. or No.2
Please reply the above two nos questions ... thanks
CAclubindia
