Kapurthala:- 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, calling it a very progressive and business-friendly step.
Expressing gratitude on behalf of all the traders of district Kapurthala, Kanwar Iqbal Singh District Incharge Trade Wing Kapurthala, nominated by the Punjab State Traders Commission, thanked Chief Minister Mr. Bhagwant Singh Mann and Finance Minister Mr. Harpal Singh Cheema for his sensitive and practical approach to resolving the long-pending tax-related issues of the business community.
Shri Kanwar Iqbal Singh said that the extension of the OTS 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 further said 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. The significant concessions on interest, penalty and eligible tax amounts have instilled confidence among traders and encouraged them to come forward and settle their long-pending dues,” he added.
He 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.
District Incharge Kanwar Iqbal Singh appealed to all traders, industrialists and shellers of the district to opt for the OTS scheme within the revised time frame by wisely availing the extended period. “This will help in settling the outstanding dues, in future It is a valuable opportunity to avoid litigation and start the new financial year with a clean slate. The business community should support the positive intention of the government by ensuring timely participation and compliance,
He said that while reiterating the support of the Punjab State Traders Commission, Shri Kanwar Iqbal Singh has assured full cooperation in creating awareness about the scheme and facilitating its smooth implementation.
Punjab State Traders Commission Punjab Chairman Shri Anil Thakur Ji thanked District Incharge Kapurthala Shri Kanwar Iqbal Singh, Zone Incharge and Halka Coordinator etc. for their special contribution in the OTS scheme.