diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9a3a962de..0d4a7f035 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -17,6 +17,7 @@ and this project adheres to [Semantic Versioning](http://semver.org/).
 
 ### Fixed
 - Combo - Rendering issue after Edge browser autofill behavior [#1497](https://github.com/IgniteUI/igniteui-webcomponents/issues/1497)
+- Input - Incorrect validation with numeric input and step attribute [#1521](https://github.com/IgniteUI/igniteui-webcomponents/issues/1521)
 
 ## [5.1.2] - 2024-11-04
 ### Added
diff --git a/src/components/common/util.ts b/src/components/common/util.ts
index e31ff8ea1..f676cc12c 100644
--- a/src/components/common/util.ts
+++ b/src/components/common/util.ts
@@ -15,6 +15,16 @@ export const asPercent = (part: number, whole: number) => (part / whole) * 100;
 export const clamp = (number: number, min: number, max: number) =>
   Math.max(min, Math.min(number, max));
 
+export function numberOfDecimals(number: number): number {
+  const decimals = last(number.toString().split('.'));
+  return decimals ? decimals.length : 0;
+}
+
+export function roundPrecise(number: number, magnitude = 1): number {
+  const factor = 10 ** magnitude;
+  return Math.round(number * factor) / factor;
+}
+
 export function numberInRangeInclusive(
   value: number,
   min: number,
diff --git a/src/components/common/validators.ts b/src/components/common/validators.ts
index 64e539b45..fa4b4345f 100644
--- a/src/components/common/validators.ts
+++ b/src/components/common/validators.ts
@@ -1,6 +1,12 @@
 import { DateTimeUtil } from '../date-time-input/date-util.js';
 import validatorMessages from './localization/validation-en.js';
-import { asNumber, formatString, isDefined } from './util.js';
+import {
+  asNumber,
+  formatString,
+  isDefined,
+  numberOfDecimals,
+  roundPrecise,
+} from './util.js';
 
 type ValidatorHandler<T> = (host: T) => boolean;
 type ValidatorMessageFormat<T> = (host: T) => string;
@@ -93,10 +99,20 @@ export const stepValidator: Validator<{
 }> = {
   key: 'stepMismatch',
   message: 'Value does not conform to step constraint',
-  isValid: ({ min, step, value }) =>
-    isDefined(value) && value !== '' && isDefined(step)
-      ? (asNumber(value) - asNumber(min)) % asNumber(step, 1) === 0
-      : true,
+  isValid: ({ min, step, value }) => {
+    if (isDefined(value) && value !== '' && isDefined(step)) {
+      const _value = asNumber(value) - asNumber(min);
+      const _step = asNumber(step);
+      const magnitude = numberOfDecimals(_step) + 1;
+      const rem = roundPrecise(
+        Math.abs(_value - _step * Math.round(_value / _step)),
+        magnitude
+      );
+
+      return !rem;
+    }
+    return true;
+  },
 };
 
 export const emailValidator: Validator<{ value: string }> = {
diff --git a/src/components/input/input.spec.ts b/src/components/input/input.spec.ts
index c33916573..b09482547 100644
--- a/src/components/input/input.spec.ts
+++ b/src/components/input/input.spec.ts
@@ -356,6 +356,30 @@ describe('Input component', () => {
     });
   });
 
+  describe('issue-1521', () => {
+    let input: IgcInputComponent;
+
+    beforeEach(async () => {
+      input = await fixture<IgcInputComponent>(html`
+        <igc-input type="number" step="0.1"></igc-input>
+      `);
+    });
+
+    it('', () => {
+      input.value = '1';
+      expect(input.checkValidity()).to.be.true;
+
+      input.value = '1.1';
+      expect(input.checkValidity()).to.be.true;
+
+      input.value = '1.11';
+      expect(input.checkValidity()).to.be.false;
+
+      input.step = 0.01;
+      expect(input.checkValidity()).to.be.true;
+    });
+  });
+
   describe('Form integration', () => {
     const spec = createFormAssociatedTestBed<IgcInputComponent>(
       html`<igc-input name="input"></igc-input>`
diff --git a/src/components/rating/rating.ts b/src/components/rating/rating.ts
index 63a700385..823318647 100644
--- a/src/components/rating/rating.ts
+++ b/src/components/rating/rating.ts
@@ -35,6 +35,8 @@ import {
   formatString,
   isEmpty,
   isLTR,
+  numberOfDecimals,
+  roundPrecise,
 } from '../common/util.js';
 import IgcIconComponent from '../icon/icon.js';
 import IgcRatingSymbolComponent from './rating-symbol.js';
@@ -328,17 +330,8 @@ export default class IgcRatingComponent extends FormAssociatedMixin(
     return clamp(value, this.step, this.max);
   }
 
-  protected getPrecision(num: number) {
-    const [_, decimal] = num.toString().split('.');
-    return decimal ? decimal.length : 0;
-  }
-
   protected round(value: number) {
-    return Number(
-      (Math.round(value / this.step) * this.step).toFixed(
-        this.getPrecision(this.step)
-      )
-    );
+    return roundPrecise(value, numberOfDecimals(this.step));
   }
 
   protected clipSymbol(index: number, isLTR = true) {