Chandigarh, Feb 2 (PTI) – Punjab has witnessed a significant 11.87% rise in net Goods and Services Tax (GST) collection up to January in the current fiscal year, compared to the same period last year, Finance Minister Harpal Singh Cheema announced on Sunday.
In a statement, Cheema revealed that excise revenue in the state also jumped by 15.33%, reflecting the government's successful efforts in boosting tax compliance and revenue collection.
Punjab Among Top Three States in GST Growth
Punjab stands out as one of the top three general category states (GCS) in India that have surpassed the national GST growth rate, Cheema highlighted.The net GST collection up to January 2025 reached ₹19,414.57 crore, compared to ₹17,354.26 crore in the corresponding period of 2023-24. In January 2025 alone, Punjab recorded a 9.73% increase in GST revenue, collecting ₹2,008.58 crore, up from ₹1,830.52 crore in January 2024.
Excise Revenue Strengthens with Over ₹8,500 Crore Collection
Punjab’s excise collections surged to ₹8,588.31 crore in the current fiscal year up to January, reflecting a 15.33% growth from the ₹7,446.46 crore recorded in the same period of 2023-24.Cheema credited the excise and taxation department's proactive measures, including plugging revenue leakages and curbing tax evasion, for the state's strong financial performance.
With this steady growth in revenue, Punjab continues to strengthen its financial health, reinforcing its position as a key contributor to the national tax pool.
