Punjab’s tax revenue up due to govt efforts: Harpal Singh Cheema
Punjab finance, excise and taxation minister Harpal Singh Cheema on Sunday said concerted government efforts have led to a rise in the state’s tax revenue.
He said the net collection from GST, excise, VAT, CST, and PSDT between April 2024 and February 2025 saw a 12.1% rise as compared to the same period in 2023-24 financial year. The net GST collection saw a 28% growth in February compared to last year, the minister added.
Cheema said this fiscal year has seen a continuation of the previous years’ trend, with a 13.4% growth rate in net GST, 14.4% rise in excise, 5.10% climb in VAT, 17% increase in CST, and 13.65% rise in PSDT up to February when compared to the same period in FY 2023-24.
He said the total net collection from these taxes up to February this fiscal year is Rs.38,272.66 crore as compared to Rs.34,141.36 crore during the last fiscal year, an increase of Rs.4,131.30 crore.
The finance minister said there was Rs.506.26 crore increase in GST collections this February compared to last year. While this February, the net GST collection stood at Rs.2,313.69 crore, it was Rs.1,807.43 crore in February 2024.
He added that the excise revenue also saw a rise – from Rs.656 crore last February to Rs.686.47 crore this time.
