Cut paneer into cubes or into fingers as per your choice. Mix all-purpose flour, salt, 1 tsp corn starch, 1 tsp ginger garlic paste, ½ tsp soy sauce. Prepare a thin mixture of coating consistency. Dip the paneer cubes into the mixture.
Heat oil in a pan and shallow fry the paneer cubes till golden brown. Remove from oil once done and place on tissue paper to drain out excess oil.
Heat 3 - 4 tsp oil in a pan on medium heat. Add crushed or finely chopped ginger, garlic, green chillies, spring onions. Sauté for 1 min. Add sliced onions. Stir for 1 minute. Put all capsicum & onion (diced to medium size). Stir fry for 2 minutes.
Add 1 tsp of soya sauce, chilli sauce, vinegar and ¼ tsp or lesser (as per taste) black pepper powder to the frying pan and sauté for 30 seconds.
Add fried paneer cubes to the pan and give them a nice toss.
In a small bowl add 2 tbsp corn flour and ¼ cup water and slowly add this starch mixture to pan. It will thicken the consistency of the gravy. You can adjust water as per the consistency you require.
If you want dry chilli paneer then add only 2 tbsp water and add the corn starch mixture to it. If you want with gravy add ¼ to ½ cup water and simmer for some time. Season with salt as per taste.
Let it boil for 2 - 3 minutes. Turn off the gas and remove from heat. Garnish with spring onions and chilly paneer is ready to serve.