Punjab Traders Welcome OTS scheme extension as the Punjab State Traders Commission thanked Chief Minister Bhagwant Singh Mann and Finance Minister Harpal Singh Cheema for extending the One Time Settlement (OTS) Scheme-2025 till March 31, 2026.
Punjab Traders Welcome OTS decision, calling it a progressive and pro-business move. Punjab State Traders Commission Chairman Anil Thakur said the extension reflects the government’s practical and trader-friendly approach to resolving long-pending tax disputes.
Thanking the Chief Minister and Finance Minister, Thakur said the decision addresses genuine difficulties faced by traders and industries. He noted that businesses often struggle with compliance pressure and procedural hurdles during the last quarter of the financial year.
He added that the OTS scheme has provided major relief to traders dealing with legacy disputes under pre-GST laws, including VAT and Central Sales Tax. According to him, the extension will help eligible traders review their liabilities calmly and settle dues without stress.
Thakur said the scheme’s concessions on interest, penalties, and eligible tax amounts have boosted confidence among traders. He pointed out that the strong response to the scheme shows the business community’s trust in the current government’s policies.
Appealing to traders, industrialists, and rice millers, Thakur urged them to use the extended timeline wisely. He said the scheme offers a chance to clear dues, avoid litigation, and begin the new financial year smoothly.
The Punjab State Traders Commission assured full support in spreading awareness and ensuring smooth implementation of the scheme.
