Chandigarh, November 30:
Punjab Finance Minister Harpal Singh Cheema announced a remarkable 62.93% increase in net GST collection for November 2024 compared to the same period last year. This growth is part of an overall upward trend, with a 10.30% increase in net GST collection up to November 2024 compared to the previous financial year.
Key Highlights:
- GST Revenue: The state earned Rs 2,477.37 crore in November 2024, a significant increase from Rs 1,520.55 crore in November 2023.
- Excise Revenue: Excise revenue also witnessed a substantial growth of 13.17% up to November 2024.
- Overall Revenue: The total net collection from GST, VAT, CST, PSDT, and Excise up to November 2024 is Rs 27,481.57 crore, a 10.05% increase over the previous year.
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The Punjab government attributes this significant growth to improved tax compliance and enforcement measures. The state’s focus on economic development and fiscal discipline has contributed to this positive trend.
