1 month ago
Punjab recovers Rs 1.21 crore in VAT dues
The Punjab Taxation Department has been working hard to collect unpaid Value Added Tax (VAT) from businesses.
They recently sold a property for Rs 1.21 crore, which was more than expected.
They also got Rs 18.46 lakh from a company that chose to pay its dues under a special settlement plan.
The government is telling all businesses with unpaid taxes to pay by July 31, 2026, or they might lose their property.
The department is being strict to make sure they get the money they are owed.
Punjab Taxation Department recovered Rs 1.21 crore through a property auction.
Rs 18.46 lakh was deposited under the One-Time Settlement (OTS) Scheme by Guruji Feeds.
The auction of Samana Roller Flour Mill Limited's property exceeded the reserve price by Rs 46.69 lakh.
Rs 30.25 lakh was immediately recovered from the highest bidder.
The OTS Scheme deadline is July 31, 2026, after which defaulters will face strict recovery actions.
- Who
- Punjab Taxation Department, VAT defaulters
- What
- Recovery of VAT dues through property auctions and OTS Scheme
- Where
- Patiala district, Punjab
- When
- July 27, 2026 (auction date), July 31, 2026 (OTS deadline)
- Why
- To recover outstanding VAT dues and encourage settlement under the OTS Scheme
Taxation Department
VAT Defaulters
Recovery Methods
Taxation Department
The Taxation Department is using property auctions and the One-Time Settlement (OTS) Scheme to recover VAT dues.
VAT Defaulters
Defaulters can either settle their dues under the OTS Scheme or face property attachment and auctions.
Benefits of OTS Scheme
Taxation Department
The OTS Scheme offers substantial relief and benefits to defaulters who settle their dues before the deadline.
VAT Defaulters
Defaulters who do not avail the OTS Scheme will face stringent recovery measures, including property auctions.
Key facts
- Amount Recovered
- Rs 1.21 crore
- OTS Deposit
- Rs 18.46 lakh
- Auction Property
- Samana Roller Flour Mill Limited
- OTS Deadline
- July 31, 2026
- Reserve Price
- Rs 74.31 lakh
- Successful Bid Amount
- Rs 1.21 crore
- Immediate Recovery
- Rs 30.25 lakh
Quotes
Advocate Harpal Singh Cheema
Punjab Finance, Excise and Taxation Minister
“"In Patiala district, the auction of property belonging to Guruji Feeds, Rajpura, against whom a total tax demand of Rs 57.78 lakh was pending, was scheduled for July 27, 2026. Following the initiation of auction proceedings, the dealer came forward to avail itself of the beneficial terms under the OTS Scheme and deposited Rs 18.46 lakh to settle the case."”
thestatesman.com
“"In strict compliance with the prescribed auction procedure, an amount of Rs 30.25 lakh representing 25 per cent of the successful bid, was recovered immediately from the highest bidder on the day of the auction."”
thestatesman.com
Sources
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