Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema said that the state had recorded an 11.87% increase in net Goods and Services Tax (GST) collection up to January in the existing fiscal year, exceeding the national average of 10 per cent.
Punjab has reported a significant increase in its revenue, with excise taxes rising by 15.33%. Overall, the state has seen an 11.67% boost in its tax collections from various sources, including GST and other taxes.
Cheema expressed that Punjab is among the top three general category states surpassing the national GST growth rate. The total GST (Goods and Services Tax) collected by the state as of January reached Rs 19,414.57 crore. This is an increase from Rs 17,354.26 crore during the same time last year, showing a growth of Rs 2,060.31 crore.
Punjab in January 2025 alone, registered a 9.73 per cent rise in net GST, collecting Rs 2,008.58 crore against Rs 1,830.52 crore in January 2024.
Cheema on excise revenue, cited that Punjab collected Rs 8588.31 crore up to January in the existing financial year compared to Rs 7446.45 crore in the identical period former year, showing a rise of Rs 1141.85 crore.
The excise revenue from the state in January 2025 has risen by 15.91% with collections achieving Rs 893.04 crore compared to Rs 770.45 crore in January 2024.
As of January 2025, the total amount collected from various taxes, including GST, excise, VAT, CST, and PSDT, reached Rs 34,704.4 crore. This figure shows a significant increase of Rs 3,625.46 crore compared to Rs 31,078.94 crore collected during the same time last year.
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The overall tax collection in January 2025 has surged by 12.48% to Rs 3,545.09 crore against Rs 3,151.63 crore in January 2024.
Initiatives of the Excise and Taxation department have been applauded by Cheema for rising revenue without causing harassment, attributing the growth to plugging loopholes and stringing verification on tax evaders.
