A- Active Projects » Agrobank Projects » Agrobank Change Request

Bank requested to amend the GST calculator formula.

Original calculator formula: need to remove
4. The Rounding mechanism only applies to the total amount of a bill and not on individual items. In the Rounding Mechanism exercise, the total amount of a bill which ends in 1, 2, 6 & 7 sen will be rounded down while the total bill which ends in 3, 4, 8 & 9 sen will be rounded up to the nearest multiple of 5 sen. This item 4 is not apply for Internet Banking

New calculator formula: need to add this:
3. For online payments, to round up or round down to the nearest 1 sen.

if the calculation having 3 digits after decimal points (eg: 0.024), if the 3rd digit (eg: 0.025) is more than 5 then will round up (eg: 0.03), if the 3rd digit (eg:0.023) less than 5 then will display 2 digits (eg: 0.02) as per example given as below.

1.        PTPTN

Commission = RM0.50

GST charges calculation:

6% x RM0.50 = RM0.03

2. SATU

Commission = RM0.40

GST charges calculation:

6% x RM0.40 = RM0.024 will become RM0.02

3. eIBFT

a. Domestic:

Bank

Commission = RM0.70

GST charges calculation:

6% x RM0.70 = RM0.042 will become RM0.04

MEPS

Commission = RM0.30

GST charges calculation:

6% x RM0.30 = RM0.018 will become RM0.02

b. LIFB

Bank

Commission = RM3.70

GST charges calculation:

6% x RM3.70 = RM0.222 will become RM0.22

MEPS

Commission = RM0.30

GST charges calculation:

6% x RM0.30 = RM0.018 will become RM0.02