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of <h1>Section 51 of Punjab GST Act: Deduct 1% Tax on Contracts Over 2,50,000; Certificate Required; Late Fees for Delays.</h1> Section 51 of the Punjab Goods and Services Tax Act, 2017 mandates certain government departments, local authorities, and notified persons to deduct tax at a rate of one percent from payments to suppliers when the contract value exceeds 2,50,000. This deduction excludes central, state, integrated taxes, and cess. The deducted amount must be paid to the government within ten days post-month-end. Deductors must provide a certificate to deductees detailing the deduction. Failure to issue the certificate incurs a late fee. Deductees can claim credit for deducted tax. Non-payment of deducted tax attracts interest, and refunds for excess deductions follow Section 54 provisions.
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