Chandigarh, February 2 : Advocate Harpal Singh Cheema, the Punjab Finance, Planning, Excise and Taxation Minister, announced on Sunday. He stated that the state has achieved an impressive 11.87 percent GST Growth in net Goods and Services Tax (GST) collection up to January in the current fiscal year. This represents a significant increase compared to FY 2023-24. This growth rate surpasses the national average of 10 percent. Additionally, Punjab has witnessed a net growth of 15.33 percent in excise and a total of 11.67 percent in taxes from net GST, Excise, VAT, CST, and PSDT in the current fiscal year.

Punjab Among Top 3 States in GST Growth – 9.73% Rise in Jan 2025

The Finance Minister, Harpal Singh Cheema, issued a press communique here. He revealed that Punjab is among the top 3 general category states (GCS) in the country. These states have exceeded the national growth rate in GST collection. The net GST collection up to January in the current fiscal year stood at Rs 19,414.57 crore, compared to Rs 17,354.26 crore collected during the same period in FY 2023-24, reflecting a growth of Rs 2,060.31 crore. The state registered a 9.73 percent growth in net GST during January 2025, with a collection of Rs 2,008.58 crore against Rs 1,830.52 crore collected in January 2024.

GST Growth ; “Punjab’s Excise Revenue Rises by ₹1,141.85 Cr, 15.91% Growth in Jan 2025”

Advocate Harpal Singh Cheema provided details of the growth in revenue from Excise. He stated that the state has collected Rs 8,588.31 crore up to January in the current fiscal year, compared to Rs 7,446.46 crore collected during the same period in FY 2023-24, resulting in a growth of Rs 1,141.85 crore. The Excise growth rate during January 2025 was 15.91 percent, with a collection of Rs 893.04 crore against Rs 770.45 crore collected in January 2024.

Net GST Collection Reaches ₹34,704 Cr, Up 12.48% from Last Year”

The Finance Minister further added that the total collection from net GST is Rs 34,704. It includes Excise, VAT, CST, and PSDT, all collected up to January. This is a comprehensive collection. It takes into account all mentioned taxes. This collection is for the current fiscal year. This collection shows a substantial increase. It amounts to Rs 34,704.4 crore, with a net growth of Rs 3,625.46 crore when compared to Rs 31,078.94 crore collected during the same period in FY 2023-24. The total collection from these taxes in January 2025 reflected a growth of 12.48 percent compared to January 2024, with a total collection of Rs 3,545.09 crore against Rs 3,151.63 crore collected in January 2024.

Punjab Govt Boosts Revenue Ethically, Says Finance Minister Cheema”

The Chief Minister Bhagwant Singh Mann-led Punjab Government is committed to making the state self-sufficient. This will be achieved by increasing its own tax revenue. Finance Minister Harpal Singh Cheema praised the initiatives of the Excise and Taxation department. They increased revenue from these taxes without harassing anyone by simply plugging loopholes and monitoring tax evaders.