Input tax credit procedure tightened: recipients must verify supplier details and follow prescribed processes for claiming credits. The Act amends the Punjab GST framework to clarify supply classification under Schedule II, expand definitions to include securities as services, tighten reverse charge and registration rules including SEZ registration and suspension during cancellation proceedings, and introduce a mandatory procedure requiring recipients to verify supplier-submitted outward supply details in returns. It prescribes procedures and limits for availing input tax credit where supplier details are not furnished, deems suppliers' reported outward supplies as tax payable, establishes joint and several liability for tax or wrongly availed credits, and empowers the Government to prescribe the order of credit utilisation.