Punjab Government Extends Deadline for One-Time Due Settlement for Traders
The Punjab government extended the deadline for its One-Time Settlement scheme for traders to March 31, offering relief due to compliance burdens and logistical challenges.Summary
The Punjab government, led by Chief Minister Bhagwant Mann, has extended the deadline for the Punjab One-Time Settlement (OTS) Scheme for Recovery of Outstanding Dues to March 31. This decision was made in response to requests from stakeholders like the GST Practitioners Association (GSTPA) Punjab, aiming to provide relief to the trading community. Finance Minister Harpal Cheema explained that the extension was approved after reviewing the initial participation in the scheme, with 6,348 applications received to date. The government recognized that taxpayers faced significant compliance pressures in late 2025 due to coinciding tax filing deadlines. Additionally, delays in distributing VAT assessment orders hindered businesses' ability to accurately calculate their tax obligations before the original December deadline. The extension aims to address these challenges and facilitate greater participation in the OTS scheme.
(Source：News 24)