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In a small bowl, toss paneer cubes, coconut oil, turmeric, cayenne pepper and half the salt. Marinate while preparing vegetables.
Chop, grate, and/or cut up all vegetables. If serving over rice, prepare as per instructions.
Set a large skillet over medium heat. Toast one side of the paneer cubes, remove from the pan and set aside.
Place the onions in the same skillet and sauté onions in ghee for 3 minutes. Add the garlic, ginger, and serrano chili. Sauté 2 moreminutes.
Stir in the spices, remaining salt, spinach, 1/2 cup of water, and simmer for about 5 minutes until the water is evaporated and spinach is tender.
Stir in coconut milk and lemon juice. Finally return the paneer to the pan to warm.
Serve over basmati rice or with naan. Garnish with tomatoes, green onion and serrano chilies if you like.