Composition scheme option permits eligible small registered persons to pay a prescribed tax rate instead of regular GST obligations. The ordinance amends the Punjab GST Act to (i) integrate the National Appellate Authority for Advance Ruling into the State framework with appeal timelines, binding effect and procedural rules; (ii) expand a composition option allowing eligible small registered persons to pay tax at a prescribed rate subject to specified exclusions and PAN linked opt in conditions; (iii) require Aadhaar authentication or alternate identification for registration; and (iv) adjust return filing, electronic payment modes, inter ledger transfers, interest charging linked to electronic cash ledger debits, and a ten percent profiteering penalty with a thirty day deposit exception.
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Provisions expressly mentioned in the judgment/order text.
Composition scheme option permits eligible small registered persons to pay a prescribed tax rate instead of regular GST obligations.
The ordinance amends the Punjab GST Act to (i) integrate the National Appellate Authority for Advance Ruling into the State framework with appeal timelines, binding effect and procedural rules; (ii) expand a composition option allowing eligible small registered persons to pay tax at a prescribed rate subject to specified exclusions and PAN linked opt in conditions; (iii) require Aadhaar authentication or alternate identification for registration; and (iv) adjust return filing, electronic payment modes, inter ledger transfers, interest charging linked to electronic cash ledger debits, and a ten percent profiteering penalty with a thirty day deposit exception.
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