CHANDIGARH: In a major relief to the trading community and industry of the state, the Punjab Government, led by Chief Minister Bhagwant Singh Mann, has decided to extend the deadline for the 'Punjab One-Time Settlement (OTS) Scheme for Recovery of Outstanding Dues, 2025' until March 31, 2026.
Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema gave the formal approval for this extension following representations from various stakeholders, including the GST Practitioners Association (GSTPA) Punjab.
The decision comes in response to the heavy statutory compliance burden faced by taxpayers during November and December 2025, which saw overlapping deadlines for various tax filings. Additionally, practical challenges such as the pending service of VAT assessment orders had made it difficult for many eligible taxpayers to determine their exact liabilities before the original December 31, 2025, deadline.