State surpasses national average in GST collection
Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema announced on Sunday that the state has achieved 11.87 per cent growth in net collection of goods and services tax (GST) up to January in the current fiscal year, as compared...
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Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema announced on Sunday that the state has achieved 11.87 per cent growth in net collection of goods and services tax (GST) up to January in the current fiscal year, as compared to fiscal year 2023-24.
The growth rate surpasses the national average of 10 per cent. The state also witnessed a net growth of 15.33 per cent in excise revenue and 11.67 per cent in other taxes, including GST, VAT, CST, and PSDT.
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He said Punjab was among the top three general category states in the country that had exceeded the national growth rate in GST collection. The net GST collection up to January this fiscal year stood at Rs 19,414.57 crore, compared to Rs 17,354.26 crore during the same period in FY 2023-24, reflecting a growth of Rs 2,060.31 crore.
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