Punjab registers 25% growth in GST collections in May     

Punjab registered a 25.31 per cent on-year growth in net goods and service tax (GST) collections in May to Rs 2,006.31 crore driven by strong tax administration and enhanced compliance.

Advertisement

Finance Minister Harpal Cheema said Punjab's net GST revenue rose to Rs 2,006.31 crore in May, up from Rs 1,601.14 crore in May 2024, showing an increase of Rs 405.17 crore.

This marks the highest-ever GST collection for the month of May in Punjab's history, said Cheema in an official statement.

This year's performance clearly indicates a robust and accelerating growth trend in Punjab's fiscal health, he said and attributed the growth to strong tax administration, enhanced compliance, and a resilient economic environment.

He emphasised that the AAP government's commitment to financial prudence and economic reform led to this consistent upward trend in revenue.

Cheema noted that this surge not only represents the highest year-on-year monthly growth in recent years but also outpaced the national average GST growth.

"We have curbed tax evasion, improved field-level enforcement, and enabled a seamless taxation framework that supports businesses while safeguarding state revenues," he added.

This fiscal milestone is particularly commendable given the challenges Punjab faced as a border state, including heightened India-Pakistan tensions and a war-like situation during the period, he said.