Punjab Sees Surge in GST Collection, Aiding Economic Growth

Punjab's net GST collection saw a 62.93% rise in November. The total net GST collection of this financial year also rose by 10.30% compared to 2023-24. Excise revenue grew by 6.42%, attributed to improved tax compliance and enforcement by the state government.

Punjab Finance Minister Harpal Singh Cheema announced that the state's net GST collection increased substantially by 62.93% in November compared to the same month last year.

The overall net GST collection for the financial year until November shows a growth of 10.30% against the corresponding period of the previous financial year 2023-24.

Cheema credited this growth to enhanced tax compliance and enforcement measures instituted by the state government, which also led to a 6.42% rise in excise revenue for the month.

(With inputs from agencies.)