E-Paper
22% increase in state’s tax revenue, says Punjab FM Harpal Cheema
Punjab records a 22% increase in its own tax revenue during April 2023 as compared to April 2022, with the highest increase seen in GST revenue.
Finance and taxation minister Harpal Singh Cheema on Tuesday said the state has recorded a 22% increase in its own tax revenue during April 2023 as compared to April 2022.
Cheema said that as per the initial estimates, the state has collected ₹3,988.23 crore from its taxes during April 2023 against ₹3,275.85 crore collected in April 2022. “There has been a significant increase in the revenue collected from Goods and Services Tax (GST), state excise, and stamps and registration,” he said.
The finance minister further said the total tax collection data is being evaluated by the finance department, through the integrated financial management system (IFMS), and there may be a slight difference in the final data. He said the highest increase of ₹483 crore was seen in GST. The total GST revenue during April 2022 was ₹1,532 crore, while this year the figure stood at ₹2,015 crore. The excise revenue increased by ₹216.48 crore to ₹781.12 crore this year compared to ₹564.64 crore in April 2022, he added. The revenue collected from Stamps and Registration also increased by ₹85.95 crore to ₹441.35 crore this year as against ₹355.4 crore in April 2022.
