The Government of Punjab, Department of Excise and Taxation, has issued Notification No. G.S.R.85/P.A.8/2005/S.29-A/C.A.74/1956/S.9/P.A.8/2002/S.25/P.A.5/2017/S.174/2023 dated November 9, 2023, notified the “Punjab One Time Settlement Scheme for Recovery of Outstanding Dues, 2023.” This scheme aims to address unpaid tax liabilities, promoting compliance and transparency. The powers for this action are derived from various statutory provisions, including the Punjab Value Added Tax Act, 2005, the Central Sales Tax Act, 1956, the Punjab Infrastructure (Development and Regulation) Act, 2002, and the Punjab Goods and Services Tax Act, 2017.
The scheme, effective from November 15, 2023, applies statewide and pertains to cases where assessments were completed by March 31, 2023. It specifically targets cases with outstanding dues up to one crore rupees as of March 31, 2023. The application window for settling dues under this scheme is limited, with no applications accepted after March 15, 2024.
The Complete Notification can be accessed at: https://a2z-bucket.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/Final_Gazette_Report.pdf