The trading and business community of Punjab has welcomed the Punjab Governmentrsquos decision to extend the Punjab One-Time Settlement (OTS) Schemendash2025 till March 31, 2026, terming it a highly progressive and trader-friendly step. Expressing gratitude on behalf of traders across the state, Shri Anil Thakur, Chairman, Punjab State Tradersrsquo Commission, thanked Chief Minister S. Bhagwant Singh Mann and Finance Minister S. Harpal Singh Cheema for their sensitive and pragmatic approach towards resolving long-pending tax-related issues of the business community. Shri Anil Thakur said that the extension of the OTS Scheme demonstrates the State Governmentrsquos deep understanding of the practical difficulties faced by traders and industry, particularly the heavy compliance burden and procedural challenges witnessed during the last quarter of the year. He added that the scheme has emerged as a major relief for businesses dealing with legacy disputes under pre-GST laws, including VAT and Central Sales Tax. ldquoThe decision to extend the OTS Scheme till March 31, 2026, reflects the Punjab Governmentrsquos commitment to creating a pro-business environment and promoting voluntary compliance. The substantial waivers on interest, penalties, and eligible tax amounts have instilled confidence among traders and encouraged them to come forward and settle long-pending dues,rdquo said Shri Thakur. The Chairman further noted that the large number of applications received under the scheme clearly indicates the trust of the trading community in the policies of the present government. He said that the extension would allow remaining eligible traders to accurately assess their liabilities and take advantage of this one-time opportunity without undue pressure. Shri Anil Thakur appealed to all traders, industrialists, and rice millers in Punjab to make judicious and benevolent use of the extended period and opt for the OTS Scheme within the revised timeline. ldquoThis is a valuable opportunity to clear outstanding arrears, avoid future litigation, and start the new financial year with a clean slate. The trading community should reciprocate the Governmentrsquos positive intent by ensuring timely participation and compliance,rdquo he said. Reiterating the support of the Punjab State Tradersrsquo Commission, Shri Thakur assured full cooperation in creating awareness about the scheme and facilitating its smooth implementation.

Punjab State Traders Commission Express Gratitude To Cm Bhagwant Singh Mann And Fm Harpal Singh Cheema For Extending One time Settlement