Section 65 - Amendment of Act 1 of 1944 - Finance Act, 1990

Excise 65. Amendment of Act 1 of 1944 In the Central Excises and Salt Act, 1944 (hereinafter referred to as the Central Excises Act), after section 37C, the following section shall be inserted, namely:-- 37D. Rounding off of duty, etc The amount of duty, interest, penalty, fine or any other sum payable, and the amount of refund or any other sum 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. .