Punjab GST provisions revise the meaning of specified premises for hotel accommodation services and introduce premise-specific opt-in and opt-out declarations. A premises qualifies through supplies exceeding the prescribed per-unit daily value threshold or through a timely declaration. Registered suppliers must file opt-in or opt-out declarations between 1 January and 31 March of the preceding financial year, while registration applicants may opt in within fifteen days of acknowledgement. Each declaration applies separately to each premises and generally continues for subsequent financial years unless changed through the prescribed declaration process.

Punjab Goods and Services Tax exemption framework is amended by substituting the specified rate in column (4) against serial number 4 from 6% to 9%. The revised entry is deemed to have taken effect from 16 January 2025 and applies only to the identified table entry.

Condonation of a deliberately delayed appeal requires cogent material establishing sufficient cause; prima facie merits may be relevant where limitation would otherwise defeat a deserving claim. Revision under section 263 requires an assessment order to be both erroneous and prejudicial to Revenue interests. An unreconciled credit balance, despite material suggesting it arose from completed-work bills, supported examination of the assessment's correctness. A subsequent-year ledger did not specifically prove that the disputed amount was offered to tax, and TDS credit alone did not establish income disclosure. On these facts, the deliberate delay lacked sufficient cause and the delayed challenge to revision was not entertained.

Surcharge under the Finance Act, 2022 arose only when returned income exceeded the prescribed statutory threshold. Returned income below that threshold did not attract surcharge, particularly where the appellate position had accepted that factual basis. A contrary statistical disposal was inconsistent with the accepted income finding; consequently, the surcharge adjustment required deletion.

Transfer-pricing comparability in the manufacturing segment was affected by the amalgamation of a subsidiary into Crompton Greaves Ltd. during the relevant previous year. This extraordinary event impaired the company's suitability as a comparable for determining the arm's length price of the assessee's international transactions. As the Revenue did not rebut the basis for exclusion, Crompton Greaves Ltd. was excluded from the comparable set, favouring the assessee.

Extended-period reopening of a completed scrutiny assessment under the first proviso to Section 147 requires recorded reasons to identify the assessee's failure to make a full and true disclosure of material facts. Recorded reasons cannot be supplemented later to establish that jurisdictional condition. Where fixed-asset additions, capitalised exchange fluctuation, relevant equipment and additional depreciation were fully furnished and examined during original scrutiny, a later reconsideration of the depreciation statement without alleging withheld facts does not satisfy the statutory condition. The reassessment proceedings and consequent order are ab initio void.

Delay in filing a first appeal may be condoned under Section 249(2)(c) where affidavit-backed circumstances establish sufficient cause, including non-receipt of electronic intimation and lack of technical access to departmental communications. A statutory exemption under Section 10(26AAB) omitted from a return requires factual verification where eligibility is asserted. Article 265 prevents collection of tax without authority of law; omission from the return should not by itself prevent examination of a potentially valid exemption claim. Eligibility must be verified and the exemption granted if the statutory conditions are satisfied.

Penalty notices for furnishing inaccurate particulars must clearly state the precise charge under Section 271(1)(c), rather than leaving the relevant statutory limb unspecified. Read with Section 274, the notice must provide clear notice of the allegation forming the basis for penalty. Failure to identify the applicable limb invalidates the penalty proceedings and supports deletion of the penalty.

Condonation of a delayed appeal requires specific, supported explanations for each period of default. Reliance on a possible remedy under the Vivad Se Vishwas Scheme, delayed procurement of proof of service, and a pending review application was insufficient because relevant dates and steps taken were not specified. Proof of service was not shown to be necessary before filing. The delay was therefore not condonable.

Invalidation and subsequent omission of Rule 96(10) removed the legal basis for denying an IGST refund on exports. As the issue was governed by a coordinate-bench ruling invalidating that rule, the appellate order rejecting the refund and consequential proceedings were quashed. Refund of IGST paid on exports, together with applicable interest, was directed.

GST liability on medicines, medical devices and consumables supplied to in-patients as part of hospital health services remains subject to adjudication. The adjudicating authority must examine invoices, procurement details, tax paid at procurement, and the manner in which supplies were billed to patients, including whether GST was separately collected. Notice has been issued and adjudication may continue; however, any final order cannot be given effect while the writ petition remains pending.

GST exemption applies to services supplied by approved Maritime Training Institutes where education forms part of a curriculum leading to a qualification recognised by law. Maritime courses and institutes approved by the Director General of Shipping are recognised under the Merchant Shipping Act, 1958 and the standards governing seafarer training, certification and watch-keeping. Such institutes qualify as educational institutions for GST purposes, subject to the applicable exemption conditions, with corresponding application under equivalent IGST, UTGST and CGST exemption entries.

Providers holding continuation letters may operate BATF services in their existing legal form during the three-year transition, but must obtain registration to continue BATF services from IFSC. BATF operations must be ring-fenced, prescribed fees paid, and specified requirements met. Transitional exclusions apply to pre-existing contracts, manpower and assets and to migration to a newly incorporated entity; further conditions must be met within six months.

Safeguarding conditions restrict employee relocation and asset transfers from Group Entities in India to a BATF Service Provider. Transferred or relocated employees must remain within the prescribed workforce limit, and only employees without recent Group Entity employment qualify as new employees. The conditions apply annually for the prescribed period. Existing contracts or work arrangements are treated as transferred where subsisting client arrangements are shifted, or prematurely terminated and replaced by a new arrangement with the same service recipient.

Repeal and savings remove references to Accounting, Book-keeping and Taxation Services from specified entries of the Ancillary Services Framework after a sixty-day commencement period. Ancillary Service Providers holding a letter of continuation remain governed by the prescribed conditions in the Second Schedule despite other provisions and must comply with those continuation conditions.

Contravention by a BATF Service Provider of applicable regulations, guidelines, circulars or directions may attract enforcement action under the Act, including suspension or cancellation of registration. Enforcement action cannot be taken unless the provider receives a reasonable opportunity to make submissions.

BATF Service Providers must pay the fees or charges specified by the Authority from time to time under the framework governing book-keeping, accounting, taxation and financial crime compliance services.

Authority powers include prescribing norms, procedures, processes and additional requirements through circulars, guidelines or directions. Directions may also be issued through guidance notes or circulars to address difficulties in interpretation or application, providing an administrative mechanism for supplementary requirements and interpretive clarification in matters incidental to implementation.

The Authority may relax strict enforcement of applicable requirements where this serves development of the financial market in an IFSC, with reasons recorded in writing. Applicants must file details and grounds with the specified non-refundable fee. A complete application, including clarification responses, must be processed within sixty days, and reasons recorded for acceptance or refusal.

BATF Service Providers must furnish operational information in the manner, intervals and form specified by the Authority. Financial reporting must be in US Dollar unless otherwise directed. Within ninety days after each financial year closes, each provider must submit an independent compliance certificate issued by a practising CA, CS or CMA, confirming compliance with applicable requirements, including Regulations 8 and 9.