Punjab News: The Punjab government has rolled out the One-Time Settlement (OTS) Scheme 2025 to reduce old tax disputes and help industries well-spoken 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 requite a fresh start to businesses struggling with outstanding liabilities.
Relief On Pending Tax Amounts
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 well-constructed waiver on interest and penalties and a 25% cut in tax dues. For cases whilom twenty-five crores, the scheme offers full waiver on interest and penalty and a 10% relief on tax amounts, helping businesses outbreathe easier.
Special OTS For Rice Mills
A separate OTS plan has been tried for rice mill owners. Many mills were supposed defaulters for not transplanting finance 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 when into the economic fold, boosting state revenues and benefiting farmers.
Changes In Property Regulation Act
To ensure planned urban growth, the cabinet tried amendments to the Punjab Apartment and Property Regulation Act, 1995. These changes will modernize minutiae of colonies and townships in an organized way. With largest 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 manor minutiae increasingly transparent for citizens.
GST Amendment Bill Approved
The cabinet moreover 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 inside act, the government hopes to simplify compliance for taxpayers. Officials said this will modernize tax collection, reduce disputes, and encourage increasingly businesses to stay within the formal tax system.
Special NIA Magistrate In Mohali
To speed up cases related to national security, the cabinet tried the setting up of a special NIA magistrate in SAS Nagar, Mohali. This magistrate will not only hear NIA cases but moreover 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 increasingly efficient, sending a strong message versus organized treason and corruption.
Boost To Punjab’s Merchantry Climate
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, modernize merchantry confidence, and ensure that governance remains efficient and growth-focused, directly benefiting both traders and worldwide citizens alike.
