Rounding off the gross amount in gst invoice ?

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Would like to know if the Gross Amount can be rounded off or not?

Is GST-1 accepting decimals figure for Gross Amount?

Since it will create mismatch during reconciling if the software doesnt allow rounding off for Gross Amount (I have tried the free version of Cleartax and it doesnt allow rounding off the Gross Amount, dont know if this is the same with other GSP)

For Example :suppose you purchase something 5.25per kg (GST 18%), weight of the product being 121 kg

So the Bill be 121 * 5.25 = 635.25

CGST 9% = 57.17

SGST 9% = 57.17

Round off = 0.41

Gross Amount = 750/-

Now if the rounding off is allowed then this bill is fine but when we enter this bill in Purchase in Cleartax then there is no option to enter this round off figure hence our purchase gross amount will be 749.59/- itself

Now when our Seller will file GST 1 if he enters Gross Amout as Rs.750/- and if we are using Cleartax then the amount in our GST 2 will be Rs.749.59/-

will this create Mismatch ?

if our software/GSP also provide option to round off then even we can enter Rs.750/-, and there wont be any mismatch...

but if GSP doesnt allow the rounding off due to some rules then when we generate sales invoice we should not round off the gross amount itself.

has anyone else tried any other GSP and came across this issue?

 

 

Replies (1)
You are quite right. It is the problem of matching which stop us from rounding off the invoice value. In tally erp. also they do not provide back calculation of tax and taxable amount. Solution lies is back calculation only and adjustment of tax accordingly ( some times). Your query is about one year old and only one search result I found. Have you got any solution? Pl share.

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