Minister Cheema urged traders to utilise this final window to regularise past dues.

Deadline Extended: Punjab Traders Get Until March 31 to Settle Pre-GST Dues Under OTS-2025

Punjab Finance Minister Harpal Singh Cheema announced on Friday that the state has successfully recovered Rs 110 crore through the One-Time Settlement (OTS-2025) scheme. Highlighting the success of the initiative, the Minister informed that the Taxation Department has received 7,654 applications since the scheme's launch on October 1, 2025. These applications have already resulted in unprecedented waivers totalling Rs 38,477 crore for the state's trading community.

Cheema stated that the extension was granted in response to industry feedback and representations from various associations; the deadline to avail of the scheme has been extended from December 31, 2025, to March 31, 2026. This extension provides eligible taxpayers additional time to assess their liabilities and resolve pre-GST disputes in a simplified manner.

The OTS-2025 offers a 100% waiver on interest and penalties across all categories. Furthermore, it provides tiered waivers on the primary tax amount: a 50% waiver for demands up to Rs 1 crore, 25% for demands between Rs 1 crore and Rs 25 crore, and 10% for demands exceeding Rs 25 crore. 

Minister Cheema urged traders to utilise this final window to regularise past dues. He clarified that while the government remains facilitative, cases not opting for the scheme may face strict legal recovery proceedings.

Source: Times of India