Chandigarh: Punjab finance, planning, and excise & taxation minister Harpal Singh Cheema on Friday stated that the state government has ramped up its recovery efforts against tax defaulters by initiating public auctions of properties belonging to persistent VAT and GST evaders.
"In a decisive move to recover long-pending dues, the excise and taxation department has carried out three major property auctions, recovering significant amounts from businesses and individuals who failed to clear liabilities despite repeated notices," the minister said.
He explained that the first auction took place in Mohali, where the property of M/s Sumit Engineering was sold for Rs 13.22 crore on June 19. Another auction in Shahkot, Jalandhar, involving M/s MR Rice Mills, fetched Rs 1.1 crore.
"A sum of Rs 3.5 crore has already been deposited by successful bidders into the government treasury, while the remaining amount will be recovered within a week as per rules," Cheema added.
He noted that the action targets chronic defaulters who did not avail benefits under the One Time Settlement (OTS) scheme. To encourage voluntary compliance, the state has extended the OTS scheme until July 31.
Issuing a warning, the minister said, "The era of ignoring tax demands is over. The department has identified several properties of habitual defaulters, and nearly 20 more auctions are scheduled across districts in the coming weeks."
He added that strict action, including attachment of bank accounts, seizure of assets, and auction of movable and immovable properties, will be taken to recover dues.
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