For the first time, Punjab crosses 10K crore GST collection in 6 months : Cheema

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Punjab Finance, Planning, Excise and Taxation Minister Advocate Harpal Singh Cheema said that Punjab has collected  GST of Rs 10604 crore during the first six months of the current financial year, crossing the 10 K mark for  first time since the implementation of the GST regime.

Issuing a statement here, the Finance Minister said that the state has seen a growth  of 22.6 percent in GST collection in the current financial year as against the same period last year.  He further added that during the first six months of the last financial year GST collection stood at Rs 8650 crore whereas during the current year the state has earned Rs 1954 crore more, taking the  total GST collection to Rs 10604 crore.

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Disclosing the GST figures for the month of September 2022, Harpal Singh Cheema said that the state has registered a growth rate of 22 percent. He said that the GST collection for September this year was Rs 1710 crore as compared to the collection of Rs 1402 in September 2021.

The Finance Minister said that the Chief Minister Bhagwant Mann led Punjab Government has estimated a GST collection of Rs 20,550 crore in its maiden budget for the Financial Year 2022-23. “The state has achieved more than 50 percent in the first six months”, said the Finance Minister while adding that the state is expected to see a healthy growth in GST collection during the upcoming festival season.

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The Finance Minister said that the state government has passed the Punjab Goods and Services Tax (Amendment) Bill 2022 in the Punjab Assembly to plug all loopholes besides stopping bogus billing which would not only benefit the traders but would also increase the own revenue of the state.