GST amount round off

Taxation
1

Hello.

From what I know GST amount is rounded off, to the lower number if below 50 paise, and to the upper number if above 50 paise. For example if GST is 10.47, then it will be rounded off as 10, and if it’s 10.60, then it will be rounded off as 11. If that’s correct then why is the Zerodha contract note that I have showing 0.5742 GST as 0.58 and not 1?

2

Hi @Alfie ,

Rounding off to nearest rupee is for STT/CTT and Stamp Duty charges and any charges except these two are rounded off to nearest 2 decimal places. The GST amount you shared above from the contract note as ₹0.5742 round off to ₹0.58 is incorrect; the correct GST amount is ₹0.57.