Amended and updated notes on section 170 of CGST Act, 2017. Detail discussion on provisions and rules related to rounding off of tax, etc.
Chapter XXI (Sections 143–174) of the Central Goods and Services Tax Act, 2017 deals with the provisions related to miscellaneous. Section 170 of CGST 2017 provides for rounding off of tax, etc.
Recently, we have discussed in detail section 169 (Service of notice in certain circumstances) of CGST Act 2017. Today, we learn the provisions of section 170 of Central GST Act 2017.
Section 170 of the Central Goods and Services Tax Act, 2017 has been notified by the Ministry of Finance vide Notification No. 1/2017-Central Tax, G.S.R. 605(E), dated 19.06.2017. This notification was come into force from 22nd June, 2017 i.e. the commencement date of section 170 is 22-6-2017.
| Name of Act | The Central Goods and Services Tax Act 2017 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Central Board of Indirect Taxes & Customs |
| Governing body | GST Council |
| Number of Chapters | 21 |
| Number of Sections | 174 |
| You are reading: | |
| Chapter No. | XXI |
| Chapter Name | Miscellaneous |
| Section No. | 170 |
| Section Name | Rounding off of tax, etc. |
| Updated 2024 Edition | GST Law Book PDF |
Section 170 of Central GST – Rounding off of tax, etc.1
Section 170 of CGST Act 2017 shall come into force on 22.06.2017 vide Notification No. 1/2017-Central Tax, G.S.R. 605(E), dated 19.06.2017.
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.
- Section 170 of CGST Act 2017 shall come into force on 22.06.2017 vide Notification No. 1/2017-Central Tax, G.S.R. 605(E), dated 19.06.2017. ↩︎