Punjab's Finance Minister Harpal Singh Cheema has approved an extension of the One-Time Settlement (OTS) scheme for traders until March 31, 2026. This decision addresses challenges faced by taxpayers with overlapping deadlines and pending VAT assessment orders. The scheme, which aims to reduce litigation and recover blocked revenue, has received 6,348 applications, with 4,365 approved, involving ₹311.07 crore in tax, interest, and penalty. The extension offers taxpayers a final opportunity to settle pre-GST era disputes with waivers on interest and penalties.