Punjab Newsline, Chandigarh, January 2-
Punjab cabinet minister Harpal Singh Cheema proudly announced on Tuesday that the state has, for the first time, surpassed the Rs. 30,000CR mark in revenue collection from VAT, CST, GST, PSDT, and Excise within the first nine months of a fiscal year. In the current fiscal year, the total revenue received from these taxes up to December is Rs 31156.31CR, whereas in the fiscal year 2023-24, the total revenue collection from these taxes was Rs 27927.31CR.
Revealing this in a press communiqué issued here, Cheema said that the state has also witnessed a significant increase in its net GST and Excise revenue for December 2024 compared to December 2023. The state registered an impressive 28.36 percent increase in net GST revenue and a 21.31 percent increase in Excise revenue, he added.
The Finance Minister further elaborated that the revenue collection from net GST alone in December 2024
was Rs 2013.20CR, which is an increase of Rs 444.84CR from the net GST collection of Rs 1568.36CR in December 2023. Similarly, the revenue from excise in December 2024 stood at Rs 880.92CR, marking an increase of Rs 154.75CR from the Rs 726.17CR collected in December 2023, he added..