https://www.taxtmi.com/acts?id=26861 The Government may require specified public entities and notified persons to act as deductors to withhold tax from payments to suppliers where contract value exceeds the prescribed threshold, excluding tax shown on the invoice. Deductors must remit withheld amounts promptly and provide a certificate to the deductee; failure to furnish the certificate incurs a daily late fee. Deductees claim credit in their electronic cash ledger from the deductor's return. Non-payment by deductors attracts interest and default determination under the assessment provisions, while refunds for excess or erroneous deductions follow the refund mechanism, with no refund to a deductor if credited to the deductee's ledger. en-us Thu, 22 Jun 2017 11:47:17 +0530 Fri, 30 Jun 2017 14:41:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=26861 The Government may require specified public entities and notified persons to act as deductors to withhold tax from payments to suppliers where contract value exceeds the prescribed threshold, excluding tax shown on the invoice. Deductors must remit withheld amounts promptly and provide a certificate to the deductee; failure to furnish the certificate incurs a daily late fee. Deductees claim credit in their electronic cash ledger from the deductor's return. Non-payment by deductors attracts interest and default determination under the assessment provisions, while refunds for excess or erroneous deductions follow the refund mechanism, with no refund to a deductor if credited to the deductee's ledger. Act-Rules GST - States Thu, 22 Jun 2017 11:47:17 +0530 https://www.taxtmi.com/acts?id=26861