In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 10 of the Punjab Goods and Services Tax Act, 2017 (Punjab Act No. 5 of 2017) (hereinafter 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, hereby prescribes that an eligible registered person, whose aggregate turnover in the preceding financial year did not exceed One Crore rupees, may opt to pay, in lieu of the tax payable by him, an amount of tax calculated at the rate specified in rule 7 of the Central Goods and Services Tax Rules, 2017:

Provided that a registered person shall not be eligible to opt for composition levy under sub-section (1) of section 10 of the said Act, if such person is a manufacturer of the goods, the description of which is specified in column (3) of the Table below and falling under the tariff item, sub-heading, heading or Chapter, as the case may be, as specified in the corresponding entry in column (2) of the said Table:-

TABLE

Explanation. -

(1) In this Table, "tariff item", "sub-heading", "heading" and "chapter" shall mean respectively a tariff item, sub-heading, heading and chapter as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975).

(2) The rules for the interpretation of the First Schedule to the Customs TariffAct, 1975 (51 of 1975), including the Section and Chapter Notes and the General Explanatory Notes of the First Schedule shall, so far as may be, apply to the interpretation of this notification.

A. VENU PRASAD,

Financial Commissioner and Secretary to Government of Punjab,

Department of Excise and Taxation