Wednesday, 21 February 2018

New GSTN requirement on Tax amount

Dear User,

Earlier today, GSTN introduced a new validation for Tax amount of line items in sales invoices and other GSTR-1 documents. Per this validation, for every line item, Tax amount should equal Taxable value * Tax rate, rounded up to 2 digits.

Example: If taxable value = Rs. 100.53 and tax rate = 28%, then tax amount should be Rs. 28.15. Values such as 28, 28.1, 28.148, 28.1484, 28.1, 28.20, 29 will result in error from GSTN.

Starting 22nd Feb, we request you to make sure that the tax amount of line items in your Excel files matches this new validation. If you try to import Excel data where Tax amount is not as per the calculation above rounded up till 2 digits, you will see an error message-
"Per GSTN's latest requirements, Tax amount should be 28.15 (i.e. 100.53 * 28%), rounded up to 2 digits".
In such cases, we request you to correct the Excel data and upload again. 

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