Rounding off of consideration ¹ [***], equalisation levy, etc.

3. ² [ The amount of consideration, ] the amount of Equalisation levy, interest and penalty payable, and the amount of refund due, under the provisions of Chapter VIII of the Act shall be rounded off to the nearest multiple of ten rupees and, for this purpose any part of a rupee consisting of paise shall be ignored and thereafter if such amount is not a multiple of ten, then, if the last figure in that amount is five or more, the amount shall be increased to the next higher amount which is a multiple of ten and if the last figure is less than five, the amount shall be reduced to the next lower amount which is a multiple of ten.

Note:

1. Words "for specified services" omitted by the Equalisation levy (Amendment) Rules, 2020, w.e.f. 28-10-2020.

2 . Substituted for "The amount of consideration, for specified services and" by the Equalisation levy (Amendment) Rules, 2020, w.e.f. 28-10-2020.