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Punjab News: The Punjab government has rolled out the One-Time Settlement (OTS) Scheme 2025 to reduce old tax disputes and help industries clear pending dues. Effective from October 1 to December 12, this scheme applies to cases assessed up to September 30, 2025. Taxpayers under various acts, including Sales Tax, VAT, and Entertainment Duty, will be eligible to apply. This measure is expected to give a fresh start to businesses struggling with outstanding liabilities.
Under this scheme, taxpayers with dues up to one crore rupees will get 100% waiver on interest and penalty and 50% relief on the tax amount. For amounts between one crore and twenty-five crore rupees, there will be complete waiver on interest and penalties and a 25% cut in tax dues. For cases above twenty-five crores, the scheme offers full waiver on interest and penalty and a 10% relief on tax amounts, helping businesses breathe easier.
A separate OTS plan has been approved for rice mill owners. Many mills were declared defaulters for not clearing accounts with state agencies, leading to long legal disputes. With this new scheme, defaulters can now settle their cases and restart operations. The government believes this will ensure smooth paddy procurement during the season, create new jobs, and bring defunct mills back into the economic fold, boosting state revenues and benefiting farmers.
To ensure planned urban growth, the cabinet approved amendments to the Punjab Apartment and Property Regulation Act, 1995. These changes will improve development of colonies and townships in an organized way. With better regulation, issues faced by residents such as unplanned layouts, lack of facilities, and irregular approvals will be reduced. The move aims to create sustainable housing solutions while making real estate development more transparent for citizens.
The cabinet also gave a nod to changes in the Punjab Goods and Services Tax (Amendment Bill) 2025. This step aligns Punjab’s tax structure with the recent recommendations of the GST Council. By amending state GST laws in line with the central act, the government hopes to simplify compliance for taxpayers. Officials said this will improve tax collection, reduce disputes, and encourage more businesses to stay within the formal tax system.
To speed up cases related to national security, the cabinet approved the setting up of a special NIA court in SAS Nagar, Mohali. This court will not only hear NIA cases but also matters linked to the Enforcement Directorate, CBI, and other special agencies. Authorities believe this move will ensure faster justice delivery, reduce pending cases, and make legal processes more efficient, sending a strong message against organized crime and corruption.
With these reforms, the Mann government aims to send a strong signal to industries and investors. From settling disputes through OTS to modernizing property laws and tax systems, the initiatives are designed to cut red tape and create opportunities. Analysts say the cabinet decisions will help stabilize Punjab’s economy, improve business confidence, and ensure that governance remains efficient and growth-focused, directly benefiting both traders and common citizens alike.
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