Punjab Goods and Services Tax (Removal of Difficulties) Order, 2019

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..... HEREAS, sub-section (1) of section 10 of the Punjab Goods and Services Tax Act, 2017 (Punjab Act No.5 of 2017) (hereafter in this Order referred to as the said Act) provides that- (i) a registered person engaged in the supply of services, other than supply of service referred to in clause (b) of paragraph 6 of Schedule II to the said Act, may opt for the scheme under the said sub-section; .....

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..... iscount, is resulting in their ineligibility for the aforesaid scheme,causing hardships to a lot of small businesses and because of that, certain difficulties have arisen in giving effect to the provisions of section 10; NOW, THEREFORE, in exercise of the powers conferred by section 172 of the Punjab Goods and Services Tax Act, 2017 and in supersession of the Punjab Goods and Services Tax .....

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..... pply of exempt services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount, shall not be taken into account- (i) for determining the eligibility for composition scheme under second proviso to sub-section (1) of section 10; (ii) in computing aggregate turnover in order to determine eligibility for compositio .....

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