In a large mixing bowl, whisk together Greek yogurt, turmeric, garam masala, cumin, red chili powder, lemon juice, and oil to form a vibrant marinade with a thick but pourable consistency.
Add the paneer cubes to the marinade, ensuring each piece is well coated. Cover and let marinate in the fridge for at least 1 hour, or up to 4 hours for deeper flavor.
If using, prepare sliced bell peppers and onions, then thread the marinated paneer, peppers, and onions alternately onto soaked skewers, creating colorful stacks.
Preheat your grill or grill pan over high heat until hot, until you hear a gentle sizzle when placing the skewers.
Carefully place the skewers on the hot grill, turning occasionally, and cook for about 8-10 minutes until the edges are charred and crispy, and the paneer develops a smoky aroma.
Watch for the edges to turn a deep golden brown and listen for crackling sounds as the marinade chars slightly, adding to the smoky flavor.
Remove the skewers from the grill, allowing them to rest for a few minutes before serving, so the flavors settle.
Serve the paneer tikka hot, garnished with fresh cilantro if desired, alongside lemon wedges for an added zing.