Punjab Extends Tax Settlement Scheme Deadline, Providing Relief to Traders | Headlines
Punjab extended its tax settlement scheme deadline to March 31, offering relief to traders facing compliance challenges.Summary
The Punjab government has extended the deadline for its one-time tax settlement program to March 31, 2026, a decision announced by Finance Minister Harpal Singh Cheema. Originally slated to end on December 31, the extension was granted in response to requests from stakeholders like the GST Practitioners Association of Punjab, who cited compliance pressures and practical difficulties experienced by taxpayers. The scheme addresses pre-GST disputes related to VAT and Central Sales Tax, offering waivers on interest and penalties. As of now, 6,348 applications have been received, demonstrating considerable interest from the trading community. Cheema encouraged eligible entities to take advantage of the scheme before the new deadline, warning that strict recovery actions will be implemented for those who do not comply.
(Source：Devdiscourse)