Mohali :
The Punjab business community has welcomed the state government’s decision to extend the One-Time Settlement (OTS) Scheme–2025 until March 31, 2026, describing it as a progressive and trader-friendly initiative.
Anil Thakur, Chairman of the Punjab State Traders Commission, expressed gratitude to Chief Minister Bhagwant Singh Mann and Finance Minister Harpal Singh Cheema for taking a practical approach to resolve long-pending tax disputes, allowing eligible traders to maximize the benefits of the scheme.
Thakur said the extension reflects the government’s understanding of challenges faced by traders, particularly during the final quarter of the year when compliance obligations and procedural hurdles are high. The scheme provides relief for businesses dealing with legacy disputes under pre-GST laws, including VAT and Central Sales Tax (CST).
The extension until March 31, 2026, underscores the Punjab government’s commitment to fostering a business-friendly environment and encouraging voluntary compliance. With substantial concessions on interest, penalties, and tax dues, the scheme has strengthened traders’ confidence and motivated them to resolve long-pending issues,” Thakur said.
He added that the large number of applications under the scheme shows the trust of the business community in government policies. The extension offers remaining eligible traders a chance to review and settle outstanding dues without pressure.
Thakur appealed to all traders, industrialists, and rice mill owners in Punjab to make the most of the extended deadline, describing it as a “golden opportunity” to clear dues, avoid future disputes, and start the new financial year on a clean slate.
The Punjab State Traders Commission reiterated its full support to traders and pledged to raise awareness and ensure smooth implementation of the scheme across the state.
