In a significant move, the Punjab government, led by Chief Minister Bhagwant Mann, has introduced an One Time Settlement (OTS) scheme for Value Added Tax (VAT) defaulters. The scheme, aimed at providing relief to businesses, is expected to benefit more than 65,000 traders across the state. Chief Minister Mann highlighted the positive impact of the scheme, announcing that the government has already received 1800 applications since its launch.
Video Announcement from Official Punjab Government Account
The official account of the Punjab Government shared a 56-second video on the X platform (formerly Twitter), making the big announcement about the OTS scheme. The video emphasizes the substantial relief this initiative will bring to the business community in Punjab.
Chief Minister Bhagwant Mann Targets Central Government
Chief Minister Bhagwant Mann, who leads the Aam Aadmi Party (AAP), had earlier criticized the central government during the turbulent winter assembly session. Mann made serious allegations against the central government, expressing surprise at the persistent neglect of Punjab despite its significant contributions to the country’s grain production and the highest representation in the Indian Army. The OTS scheme announcement appears to be part of the state government’s proactive measures to support businesses and address economic challenges.
