GUIDELINE1 SUBJECT: ROUNDING OFF THE TRANSACTIONS OF CBEC.

SUBJECT: ROUNDING OFF THE TRANSACTIONS OF CBEC.

Rule 17 Appendix ii of Controller General of Accounts Receipts and Payment Rules provides that the Govt. transactions should be rounded off to the nearest rupee i.e. transactions involving fifty paise and above may be rounded off to next higher rupee and less than fifty paise be ignored. The date-wise Monthly Statement and Put Through Statement relating to receipts and payments, received from Banks are showing CBEC transactions in fraction of rupees.

It is reiterated that all CBEC transaction relating to expenditure accounts as well as revenue receipts and payment should be rounded off to the nearest rupee. All PAOs CBEC may issue instructions to the Focal Point Branches under their Payment and Accounting jurisdiction, to round off the CBEC transactions to the next higher rupees. The FPBs would be required to circulate the instructions among collecting branches and ensure compliance.

Commissioners Central Excise and Customs may issue Trade Notice/Public Notice for the information of assessees. They may also issue instructions to their field formations that demand for payment of duty should be rounded to whole rupee.

Sd/-
Dy. Controller of Accounts

To All Commissioner, Central Excise and Customs
To All Dy. Controller of Accounts, CBEC
To All Pay and Accounts Officers under CBEC