E-Paper
Strong response to VAT OTS scheme reflects taxpayer trust, says Harpal Singh Cheema
Punjab recovers ₹111 crore under VAT OTS scheme; govt warns of strict action after March 31 deadline.
Prefer HTon Google
Punjab Finance Minister Harpal Singh Cheema on Sunday said the state government has recovered ₹111.16 crore under the One-Time Settlement (OTS) scheme for VAT arrears, highlighting what he described as growing trust among businesspersons in the government’s tax policies.
According to the minister, the scheme has received 7,845 applications so far, covering pending dues of approximately ₹298.39 crore. He said the highest participation has come from key commercial districts including Ludhiana, Amritsar, Jalandhar, Patiala and Ropar.
Cheema said the scheme aims to provide relief to traders by allowing them to settle legacy VAT dues with waivers on penalties and interest, while also helping the state improve revenue collections and reduce litigation.
“The strong response from taxpayers reflects confidence in transparent and business-friendly governance,” he said, urging eligible businesses to take advantage of the scheme before its deadline on March 31.
The minister warned that the government will shift from a relief-based approach to strict enforcement once the deadline expires. “After March 31, pending dues will be recovered as per legal provisions,” he said, adding that around 8,000 properties have already been identified for possible action.
The OTS scheme is designed to help businesses clear old tax liabilities and align with the current taxation framework, while giving them a “clean slate” to restart operations without legacy disputes.
