Section 5(1) in Punjab Goods and Services Tax Rules, 2017
(1)The person exercising the option to pay tax under section 10 shall comply with the following conditions, namely :-(a)he is neither a casual taxable person nor a non-resident taxable person;(b)the goods held in stock by him on the appointed day have not been purchased in the course of inter-State trade or commerce or imported from a place outside India or received from his branch situated outside the State or from his agent or principal outside the State,where the option is exercised under sub-rule (1) of rule 3;(c)the goods held in stock by him have not been purchased from an-unregistered supplier and where purchased, he pays the tax under sub-section (4) of section 9;(d)he shall pay tax under sub-section (3) or sub-section (4) of section 9 on inward supply of goods or services or both;(e)he was not engaged in the manufacture of goods as notified under clause (e) of sub-section (2) of section 10, during the preceding financial year;(f)he shall mention the words "composition taxable person, not eligible to collect tax on supplies" at the top of the bill of supply issued by him; and(g)he shall mention the words "composition taxable person" on every notice or signboard displayed at a prominent place at his principal place of business and at every additional place or places of business.
