Chairman Anil Thakur with Finanace Minister Harpal Singh Cheema
By Amrit Pal Singh Sidhu
Bathinda, January 2 -2026
The traders and business community of Punjab have welcomed the Punjab Government’s decision to extend the One Time Settlement (OTS) Scheme-2025 till March 31, 2026, terming it a very progressive and pro-business step.
Expressing gratitude on behalf of traders across the state, Punjab State Traders Commission Chairman Anil Thakur thanked Chief Minister Bhagwant Singh Mann and Finance Minister Harpal Singh Cheema for their sensitive and practical approach in resolving the long-pending tax-related issues of the business community.
On this occasion, Anil Thakur said that the OTS The extension of the scheme reflects the state government’s deep understanding of the practical difficulties faced by traders and industries, especially 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.
“The decision to extend the OTS scheme till March 31, 2026, reflects the Punjab government’s commitment to create a business-friendly environment and encourage voluntary compliance. Significant concessions on interest, penalties and eligible tax amounts have instilled confidence among traders and encouraged them to come forward and settle long-pending dues,” said Shri Thakur.
The Chairman added that the large number of applications received under the scheme clearly reflects the faith of the trading community in the policies of the present government. He said that this extension will allow the remaining eligible traders to properly assess their liabilities and avail this one-time opportunity without any pressure.
Anil Thakur appealed to all traders, industrialists and rice millers of Punjab to make wise and compassionate use of the extended period and opt for the OTS scheme within the revised timeline. “This is a valuable opportunity to settle outstanding dues, avoid future litigation and start the new financial year with a clean slate. The trading community should support the government’s positive intention by ensuring timely participation and compliance,” he said.
Reiterating the support of the Punjab State Traders Commission, Thakur assured full cooperation in creating awareness about the scheme and facilitating its smooth implementation.