Chandigarh, June 20: The Punjab Government has intensified its financial recovery campaign by launching public auctions of assets belonging to chronic tax evaders, yielding significant revenue from initial sales in Mohali and Jalandhar. This stringent enforcement follows persistent non-compliance with state tax demands, prompting officials to initiate the physical attachment and liquidation of properties to secure long-pending dues.
“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 despite being granted repeated opportunities and official legal notices,” stated Finance, Planning, and Excise & Taxation Minister Advocate Harpal Singh Cheema.
Among the initial properties liquidated, an asset belonging to M/s Sumit Engineering in Mohali fetched ₹13.22 crore, while another property owned by M/s MR Rice Mills in Shahkot, Jalandhar, brought in ₹1.11 crore. The state treasury has already received an initial deposit of ₹3.58 crore from the winning bidders, with the remaining balance scheduled for recovery within the week.
“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,” affirmed the Finance Minister, explaining that the actions specifically target those who bypassed the state’s relief options.
To ensure businesses have an amicable pathway to resolve outstanding issues, the administration has extended the One Time Settlement Scheme until July 31, 2026. This extension serves as a final window for taxpayers with pending VAT liabilities to settle dues cleanly and avoid coercive legal actions, asset seizures, or bank account attachments.
“The Excise and Taxation Department remains unyielding in its commitment to protecting public revenue, ensuring that thousands of honest, law-abiding taxpayers across Punjab are not placed at a financial or competitive disadvantage by a small group of wilful defaulters who actively avoid their legal duties,” asserted Advocate Cheema, revealing that nearly 20 additional auctions are already slated across various districts for remaining defaulters.
