Punjab Goods and Services Tax (Amendment) Act, 2021

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....lic of India as follows:- Short title and Commencement. 1. (1) This Act may be called the Punjab Goods and Services Tax (Amendment) Act, 2021.     (2) Save as otherwise provided, the provisions of this Act shall come into force on such date as the Government of Punjab may, by notification in the Official Gazette, appoint: Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. Amendment in section 7 of Punjab Act 5 of 2017. 2. In the Punjab Goods and Services Tax Act, 2017 (hereinafter referred to as the principal Act), in section 7,....

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.... following section shall be substituted, namely:-- Annual return "44. Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person shall furnish an annual return which may include a self-certified reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year, with the audited annual financial statement for every financial year electronically, within such time and in such form and in such manner as may be prescribed: Provided that the Commissioner may, on the recommendations of the Council, by notification, exempt any class of registered persons fro....

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....5, in sub-section (12), the following Explanation shall be inserted, namely:-- "Explanation.--For the purposes of this sub-section, the expression "self-assessed tax" shall include the tax payable in respect of details of outward supplies furnished under section 37, but not included in the return furnished under section 39.". Amendment in section 83 of Punjab Act 5 of 2017. 9. In the principal Act, in section 83, for sub-section (1), the following subsection shall be substituted, namely:-- "(1) Where, after the initiation of any proceeding under Chapter XII, Chapter XIV or Chapter XV, the Commissioner is of the opinion that for the purpose of protecting the interest of the Government revenue, it is necessary....

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....or payment of such penalty;"; (ii) sub-section (2) shall be omitted; (iii) for sub-section (3), the following sub-section shall be substituted, namely:-- "(3) The proper officer detaining or seizing goods or conveyance shall issue a notice within seven days of such detention or seizure, specifying the penalty payable, and thereafter, pass an order within a period of seven days from the date of service of such notice, for payment of penalty under clause(a) or clause (b) of sub-section (1)."; (iv) in sub-section (4), for the words "No tax, interest or penalty", the words "No penalty" shall be substituted; (v) for sub-section (6), the following sub-section shall be substituted, namely:-- "(....