Punjab records 11.87% growth in GST, higher than national average

Chandigarh : Punjab has achieved 11.87% growth in net Goods and Services Tax (GST) collection up to January in the current financial year, compared to 2023-24. This growth rate surpasses the national average of 10%. Besides, Punjab has witnessed a net growth of 15.33% in excise and a total of 11.67% in taxes from net GST, excise, VAT, CST, and PSDT in the current financial year, said state finance minister Harpal Singh Cheema.

in a statement, Cheema said Punjab is among top three general category states in the country that have exceeded the national growth rate in GST collection. The net GST collection up to January in the current fiscal year stood at ₹19,414.57 crore, compared to ₹17,354.26 crore collected during the same period in FY 2023-24, reflecting a growth of ₹2,060.31 crore. The state registered a 9.73% growth in net GST during January 2025, with a collection of ₹2,008.58 crore against ₹1,830.52 crore collected in January 2024, Cheema said.

Giving details of the growth in revenue from excise, Cheema said the state has collected ₹8,588.31 crore up to January in the current fiscal year, compared to ₹7,446.46 crore collected during the same period in FY 2023-24, resulting in a growth of ₹1,141.85 crore. The excise growth rate during January 2025 was 15.91%, with a collection of ₹893.04 crore against ₹770.45 crore collected in January 2024.

The total collection from net GST, excise, VAT, CST, and PSDT up to January in the current fiscal year is ₹34,704.4 crore, with a net growth of ₹3,625.46 crore when compared to ₹31,078.94 crore collected during the same period in FY 2023-24.