OTS FOR RECOVERY OF OUTSTANDING DUES, 2025 TO BE LAUNCHED FOR THREE MONTHS
Chandigarh, September 24-
The Punjab Cabinet led by the Chief Minister Bhagwant Singh Mann on Wednesday gave nod to several key initiatives to boost industry and commerce in the state to further put its economy on the path of high growth trajectory.
A decision to this effect was taken in a meeting of the Council Of Ministers held here today under the chairmanship of the Chief Minister.
Disclosing this here today a spokesperson of the Chief Minister’s Office said that the Cabinet gave approval to introduce Punjab One Time Settlement Scheme for Recovery of Outstanding Dues, 2025 to reduce the compliance burden of legacy cases and will enable trade and industry to enhance their compliance. The Punjab One Time Settlement Scheme for Recovery of Outstanding Dues, 2025 will be implemented from October 1, 2025 and shall remain valid till December 12, 2025. The taxpayers whose assessments have been framed till September 30, 2025, and all the rectification /revision/ amendment of assessment orders have been passed by the Department till September 30th, 2025 under the relevant Act(s) namely Punjab General Sales Tax Act, 1948, Central Sales Tax Act, 1956, Punjab Infrastructure Development and Regulation Act, 2002 and Punjab VAT Act, 2005, The Punjab Entertainment Duty Act, 1955 and The Punjab Entertainment Tax Cinematography Shows Act, 1954, shall be eligible to apply for settlement under this Scheme.
Under the OTS scheme, 100% waiver on interest, 100% waiver on penalty and 50% waiver on tax amount is being given in cases where the tax due amount is up to Rs. 1 Crore and 100% waiver on interest 100% waiver on penalty and 25% waiver on tax amount is being given in cases where the tax due amount is more than Rs 1 Crore up to Rs 25 Crore. Over and above the tax amount of Rs 25 Crore, 100% waiver on interest, 100% waiver on penalty and 10% waiver on tax amount is being given.
APPROVES OTS FOR RICE MILLERS
The Cabinet also approved to introduce One Time Settlement (OTS) Policy for Rice Mills 2025 as each miller is bound to settle its account with each State Procurement Agency after the milling period is over so that such miller may be considered for the allotment of paddy for custom milling of the next year. Some rice mills over the years have not deposited their outstanding dues due to which these millers have been declared defaulter and legal/arbitration proceedings have been initiated against such millers. Such proceedings have been pending with various Courts/Legal forums since the last many years.
The new OTS has been introduced to minimize the litigation cases of all the agencies, settlement of the cases under the policy so that sick rice units are functional again and revival of industrial units to create more employment opportunities in the State. Likewise, it will also act as a catalyst for smoother and expedite lifting of the paddy from the mandis during the KMS’s to benefit the farmers.
APPROVAL TO AMEND THE PUNJAB APARTMENT AND PROPERTY REGULATION ACT, 1995 FOR PLANNED GROWTH
The Cabinet also gave its consent to amend Section 5(1), 5(3) (ii) and Section 5(8) of the Punjab Apartment and Property Regulation Act, 1995. This will ensure the development of colonies/areas in a proper and planned manner thereby mitigating the problems faced by the general public
CONCURRENCE TO AMEND PUNJAB GOODS AND SERVICES TAX (AMENDMENT BILL) 2025
The Cabinet also gave its concurrence to amend Punjab Goods and Services Tax (Amendment Bill) 2025 in order to facilitate taxpayers and to ensure tax compliance by the taxpayers. Pertinently Finance Act, 2025 has amended the provisions of Central Goods and Services Tax Act, 2017 as per the recommendation of GST Council. Similar amendments have to be carried out in the Punjab Goods and Services Tax Act, 2017.
GREEN SIGNAL TO CONSTITUTE EXCLUSIVE NIA COURT AT MOHALI
The Cabinet also gave its consent to constitute an exclusive Special Court at SAS Nagar, Mohali Punjab for NIA cases to avoid delays in their trials. One post of District and Sessions Judge/ Additional District and Session Judge level for constitution of Executive Special Court at Mohali will be created for investigation of cases under Section 22 of the NIA Act at SAS Nagar, Mohali in Punjab. Apart from NIA this court will also be mandated to hear cases from ED, CBI, and other special cases.
RECOMMENDS PROSECUTION SANCTION AGAINST DHARMSOT
The Cabinet also gave approval to recommendation of prosecution sanction against former Minister Sadhu Singh Dharmsot u/s 197 (1) of Code of Criminal Procedure (Section 218 of BNSS 2023) and u/s 19 of Prevention of Corruption Act 1988 as amended by P.C (Amendment) Act 2018 and u/s 197 of Code of Criminal Procedure.
