SGST & CGST Round off

no u can't round off.

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

Read more at: /forum/details.asp?mod_id=409560&offset=1

You can round off

if in your bill 0.40 than considered Zero

If in your bill 0.56 than considered 1

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.

It's a good practice to not to round off the tax amount

YOU CAN ROUND OF 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yes. I agreed to Mr Kunal Pansari...

It means we shall charge and pay in Paisa !! Not a good practice

@ Ravinder...
You have attend any service Tax audit or checking....
They are calculate and recovering 0.01 paisa

With opinions divided in this thread so far, could someone pls conclusively confirm any of the views- per invoice rounding off of taxes or not!

WE SHOULD ROUND OFF ON THE TOTAL GST ONLY