Punjab collects ₹10,604 cr GST in first 6 months: Finance minister Harpal Cheema

Punjab finance, planning, excise and taxation minister Harpal Singh Cheema on Tuesday said the state has collected ₹10,604 crore GST during the first six months of the current financial year, crossing the ₹10K crore-mark for first time since the implementation of the tax regime.

Issuing a statement here, the finance minister said the state has seen a growth of 22.6% 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 ₹8,650 crore.

Disclosing the GST figures for September 2022, Cheema said the state has registered a growth rate of 22%. He said the GST collection for September this year was ₹1,710 crore as compared to the collection of ₹1,402 in September 2021.

The finance minister said chief minister (CM) Bhagwant Mann-led Punjab government has estimated a GST collection of ₹20,550 crore in its maiden budget for the financial year 2022-23. “The state has achieved more than 50% in the first six months,” said Cheema while adding that the state is expected to see a healthy growth in GST collection during the upcoming festival season.

The finance minister said 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.

©Hindustan Times