Section 170 of CGST Act 2017: Rounding Off of Tax, etc.

Provisions under Section 170 of the Central Goods and Services Tax (CGST) Act, 2017 relating to “Rounding Off of Tax, etc.”, are as under:

Section 170 of CGST Act 2017: Rounding Off of Tax, etc. (CHAPTER XXI – MISCELLANEOUS)

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.

Amendments History:

1. CBEC notifies 1st July 2017 as the Commencement date for Section 170 of the CGST Act 2017, vide Notification 9/2017 Central Tax.

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Govt. has notified the CGST Act, 2017 on 12th April, 2017, which has subsequently been amended through the CGST (Extension to J&K) Act 2017, Finance Act 2018, CGST Amendment Act 2018, Finance (No. 2) Act 2019, Finance Act 2020, Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance 2020. Further, CBEC/ CBIC has also issued various Notifications from time to time, relating to the commencement date of various Sections/ Provisions in the respective CGST/ Amendment Acts, wherever required.

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