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. "The OTS aims to resolve approximately 20,039 pending cases involving outstanding dues of nearly Rs.11,968.88 crore across various pre-GST acts, providing substantial relief to the state's trade and industry. This marks the third such scheme offered by the AAP-led Punjab government, and it will be the final opportunity for taxpayers to settle their outstanding dues," Cheema said. After January 1, 2026, recovery proceedings will commence for those who fail to opt for this scheme. "This scheme is structured to offer substantial waivers on interest and penalties, making it an attractive proposition for all eligible taxpayers," Cheema said, who holds the excise and taxation portfolio. "For outstanding demands up to Rs.1 crore, taxpayers will receive a 100% waiver on interest and penalty, along with a 50% waiver on the tax amount," he said. "For demands between Rs.1 crore and Rs.25 crore, there will be a 100% waiver on interest and penalty, and a 25% waiver on the tax amount. In cases with demands exceeding Rs.25 crore, the OTS provides a 100% waiver on interest and penalty with a 10% waiver on the tax amount", he added, urging all eligible businesses to take advantage of this initiative before the deadline. The minister said that if all taxpayers avail this scheme, a recovery of approximately Rs.3,344.50 crore while waiving over Rs.8,441.56 crore in old dues will be made. OTS policy for rice mills was also approved. Millers will be bound to settle their accounts with each state procurement agency after the milling period is over to be considered for the allotment of paddy next year. A spokesman said some rice mills have not deposited their dues, due to which they have been declared defaulter and legal/arbitration proceedings have been initiated against them. "Such proceedings have been pending with various courts/legal forums since the last many years. The new OTS has been introduced to minimise the litigation cases , settlement of the cases under the policy, so that sick rice units are functional again. Likewise, it will also act as a catalyst for smoother and expedited lifting of the paddy from the mandis," he said. The cabinet also gave its consent to amend Section 5(1), 5(3) (ii), and Section 5(8) of the Punjab Apartment and Property Regulation Act, 1995. This will ensure the development of colonies/areas in a proper and planned manner. The cabinet also gave its concurrence to amend the Punjab Goods and Services Tax (Amendment Bill) 2025 in order to facilitate taxpayers and ensure tax compliance by the taxpayers. Pertinently Finance Act, 2025 has amended the provisions of the Central Goods and Services Tax Act, 2017 as per the recommendation of the GST Council. Similar amendments have to be carried out in the Punjab Goods and Services Tax Act, 2017. Cabinet also gave its consent to constitute Special NIA Court in Mohali to avoid delays in trials. One post of district and sessions judge/additional district and session judge level for the constitution of the executive special court at Mohali will be created for investigation of cases under Section 22 of the NIA Act....