Amendment status not verified — confirm the current text below against the official source.
A. VENU PRASAD, Additional Chief Secretary Taxation to Government of Punjab, Department of Excise and Taxation. 2202/1-2021/Pb. Govt. Press, S.A.S. Nagar 32 PUNJAB GOVT. GAZ. (EXTRA), JANUARY 12, 2021 (PAUSA 22, 1942 SAKA) PART III GOVERNMENT OF PUNJAB DEPARTMENT OF EXCISE AND TAXATION (EXCISE AND TAXATION-II BRANCH) NOTIFICATION The 8th January, 2021 No. S.O. 06/P.A.5/2017/S.39/2021.-In exercise of the powers conferred by proviso to sub-section (1) of section 39 read with proviso to sub-section (7) of section 39 of the Punjab Goods and Services Tax Act, 2017 (Punjab Act No. 5 of 2017) (hereafter in this notification referred to as the said Act) and all other powers enabling him in this behalf, the Governor of Punjab, on the recommendations of the Council, is pleased to notify the registered persons, other than a person referred to in section 14 of the Integrated Goods and Services Tax Act, 2017(Central Act.13 of 2017), having an aggregate turnover of up to five crore rupees in the preceding financial year, and who have opted to furnish a return for every quarter, under sub- rule (1) of rule 61A of the Punjab Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules) as the class of persons who shall, subject to the following conditions and restrictions, furnish a return for every quarter from January, 2021 onwards, and pay the tax due every month in accordance with the proviso to sub-section (7) of section 39 of the said Act, namely: — (i) the return for the preceding month, as due on the date of exercising such option, has been furnished: (ii) where such option has been exercised once, they shall continue to furnish the return as per the selected option for future tax periods, unless they revise the same. (2) A registered person whose aggregate turnover crosses five crore rupees during a quarter in a financial year shall not be eligible for furnishing of return on quarterly basis from the first month of the succeeding quarter. (3) For the registered person falling in the class specified in column (2) of the Table below, who have furnished the return for the tax period October, 2020 on or before 30th November, 2020, it shall be deemed that they have opted under sub-rule (1) of rule 61A of the said rules for the monthly or quarterly 33 PUNJAB GOVT. GAZ. (EXTRA), JANUARY 12, 2021 (PAUSA 22, 1942 SAKA) furnishing of return as mentioned in column (3) of the said Table:- Table Sl. No. Class of registered person Deemed Option (1) (2) (3)