Punjab State Traders’ Commission Express Gratitude To CM Mann and FM Cheema for Extending One-Time Settlement Scheme - Yes Punjab News
Punjab State Traders’ Commission thanked CM Mann and FM Cheema for extending the One-Time Settlement Scheme to March 31, 2026.Summary
The Punjab State Traders’ Commission has expressed gratitude to Chief Minister S. Bhagwant Singh Mann and Finance Minister S. Harpal Singh Cheema for extending the Punjab One-Time Settlement (OTS) Scheme–2025 until March 31, 2026. The commission, led by Chairman Shri Anil Thakur, lauded the decision as a “highly progressive and trader-friendly step,” acknowledging the government’s understanding of the difficulties faced by businesses, particularly regarding compliance and legacy disputes under pre-GST laws like VAT and Central Sales Tax.
Shri Thakur highlighted that the extension demonstrates the government’s commitment to a pro-business environment and encourages voluntary compliance through substantial waivers on interest, penalties, and eligible tax amounts. The high number of applications received under the scheme indicates the trading community’s trust in the current government’s policies. The extended timeline allows eligible traders to assess their liabilities and participate without pressure.
Shri Thakur appealed to all traders, industrialists, and rice millers in Punjab to utilize the extended period and opt for the OTS Scheme, emphasizing it as a chance to clear arrears, avoid litigation, and begin the new financial year without outstanding debts. The Punjab State Traders’ Commission pledged full cooperation in promoting awareness and ensuring the scheme’s smooth implementation.
(Source：Yes Punjab News)