Chandigarh, Sept. 25 -- The Punjab cabinet on Wednesday gave its nod to the One Time Settlement Scheme for the recovery of outstanding dues in multiple pre-GST acts cases for trade and industry to enhance compliance.

Announcing this decision after a cabinet meeting chaired by chief minister Bhagwant Mann, finance minister Harpal Singh Cheema said that the OTS will be implemented from October 1 and shall remain valid till December 12. He said that this scheme is applicable to all taxpayers whose assessment orders were framed by September 30, 2025, and it will not apply to government food agencies.

"The OTS aims to resolve approximately 20,039 pending cases involving outstanding dues of nearly Rs.11,968.88 crore across various pre-GST act...