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| 39. Rounding off tax, etc. M. VAT ACT | |
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39. Rounding off tax, etc.
The amount of tax, penalty, interest, composition money, fine or any other sum payable, and the amount of set off or refund 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:
Provided that, nothing in this section shall apply for the purposes of collection by a dealer of any amount by way of tax under this Act. |
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