Punjab records 16% jump in GST collection: Cheema

Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said the state has achieved 16.61% jump in net goods and service tax (GST) collection up to November

Chandigarh : Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said the state has achieved 16.61% jump in net goods and service tax (GST) collection up to November, and the revenue from excise recorded a growth of 11.45% during the first eight months of the current financial year against the same period last fiscal.

Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said the state has achieved 16.61% jump in net goods and service tax (GST) collection up to November.

In a release issued here on Saturday, the minister said the net GST collection of the state registered an increase of ₹1987.62 crore during the current fiscal with a net revenue collection of ₹13955.38 crore against the collection of ₹11967.76 crore up to November in 2022-23.

He said the net revenue collection from VAT, CST, GST, PSDT and excise up to November reflected an increase of 13.89% in comparison to the net collection of ₹21921.46 crore from these resources during the same period in 2022-23.

Cheema said the state government has increased its own tax revenue by tightening the noose around evaders and facilitating the honest taxpayers through simplification of the tax regime.

He said the eight-month tax receipts of the state have touched the ₹25,000 crore figure for the first time since the implementation of GST with a net revenue collection of ₹24965.59 crore from VAT, CST, GST, PSDT and excise.