Chandigarh, June 20: Significant public revenue has been recovered by the Punjab Excise and Taxation Department following the initiation of public auctions targeting properties of chronic VAT and GST evaders. The enforcement drive, which commenced with high-value property liquidations in Mohali and Jalandhar, marks a firm shift toward recovering state dues from businesses that ignored prior official notices.
“A sum of ₹3.58 crore has already been deposited by the successful bidders directly into the government treasury today, while the remaining balance will be legally recovered and deposited within the coming week as per established rules,” declared Finance Minister Advocate Harpal Singh Cheema.
The initial phase of the drive saw the property of Mohali-based M/s Sumit Engineering sold for ₹13.22 crore, alongside the auction of a property belonging to M/s MR Rice Mills in Jalandhar for ₹1.11 crore. Department officials maintained that these measures became necessary after the entities failed to clear their liabilities despite multiple opportunities.
“In a decisive move to reclaim long-pending state revenue, the Department of Excise and Taxation has successfully executed three major property auctions, recovering substantial sums from businesses and individuals who deliberately failed to discharge their tax liabilities,” maintained Advocate Cheema.
While the administration continues to schedule nearly 20 more auctions across various districts, a final relief window has been provided through the extension of the One Time Settlement Scheme until July 31, 2026. The department noted that this extension offers a transparent mechanism to settle pending VAT disputes amicably without facing harsher measures like asset attachment.
“The Chief Minister Bhagwant Singh Mann led Punjab Government’s primary objective is always the recovery of legitimate public money rather than purely punitive action,” asserted the Finance Minister, adding that the state will continue to protect honest taxpayers by ensuring all outstanding public revenue is accounted for.
