Chandigarh, March 23 -- Punjab finance minister Harpal Singh Cheema on Sunday said the one-time settlement (OTS) scheme for VAT arrears has witnessed an overwhelming response, with 7,845 applications leading to the recovery of Rs.111.16 crore. Calling it a decisive push to clean up legacy tax burdens while boosting revenue, Cheema warned that the relief window closes on March 31, after which the government will shift to strict recovery mode, with nearly 8,000 properties already identified for action. "The active participation from the Ludhiana, Amritsar, Jalandhar, Patiala, and Ropar divisions is commendable," he said in a statement. The finance minister issued an appeal to all eligible taxpayers to step forward for settlement, urging businesspersons not to miss this last opportunity to resolve pending VAT arrears and seamlessly align with the state's taxation frameworks before the OTS window closes permanently. After March 31, 2026, recovery proceedings will be carried out in accordance with the provisions of law in cases where dues remain unpaid. He further stated that the scheme was specifically designed to offer a golden opportunity to settle old VAT liabilities with substantial relief in interest and penalties....