In the net Goods and Services Tax (GST) collection for June 2025, Punjab registered a record 44% year-on-year increase. For the first quarter of the 2025–26 fiscal year, a growth of 27.01% was recorded, Finance and Taxation Minister Harpal Singh Cheema stated.
Cheema cited that the net GST collection for June 2025 has arrived at Rs 2379.90 crore, showing a rise in the revenue of Rs 732.21 crore compared to Rs 1647.69 crore in June 2024.
“This follows monthly net growth trends of 15.35% in April and 24.59% in May. During the first quarter, the collection reached ₹6,830.40 crore, even amidst the conflict between India and Pakistan in May 2025, compared to ₹5,377.75 crore during the corresponding period of 2024-25,” he expressed, after simplifying the top 5 taxpayers of the state, including Ambuja Cement, HPCL-Mittal Energy Limited (HMEL), Samsung India Pvt Ltd, Tata Steel and Dada Motors.
Cheema, attacking earlier governments, mentioned that they were unable to review the tax evasion and rectify the financial condition of the state; a consistent month-on-month and year-on-year rise has been ensured by the AAP government.
A GST collection growth rate of 16.25% in FY 2022-23, 15.51% in FY 2023-24, and 12.84% in FY 2024-25, with a total collection of ₹62,733 crore in three years, has been registered under this government. In the Congress regime from 2018-19 to 2021-22, ₹55,146 crore was the only collection of the state.
The finance minister, Cheema, on the enforcement activities mentioned that a GST fraud syndicate has been discovered by the state intelligence and preventive unit (SIPU) that has been operated via an accountant who made and operated 20 bogus firms for fake billing and ITC fraud.
The minister stated that the state government has invested INR 1000 crore each in the guarantee redemption fund (GRF) and consolidated sinking fund (CSF), with the latter now surpassing INR 10,000 crore.
Source: Hindustantimes.com
