Punjab sees record-breaking growth in GST collections, says state Finance Minister

Chandigarh, July 1 (IANS) Punjab has recorded a record-breaking 44.44 per cent growth in net Goods and Services Tax (GST) collections for June 2025 and a substantial 27.01 per cent growth for the first quarter of this fiscal, marking the highest-ever GST revenue growth in a fiscal quarter and for June in state's history, said state Finance Minister Harpal Singh Cheema on Tuesday.

After facilitating the top five taxpayers of the state for their contribution to the state's economic growth and revenue generation, he said the state has outpaced the national average in GST growth, firmly positioning itself among the top-performing states in tax mobilisation despite facing national and geopolitical challenges, including border-related tensions.

The net GST collection for June stood at Rs 2,379.90 crore, reflecting a revenue growth of Rs 732.21 crore over the Rs 1647.69 crore collected in June 2024. This follows monthly net growth trends of 15.35 per cent in April and 24.59 per cent in May.

The net GST collection during the first quarter of 2025-26 reached Rs 6,830.40 crore, even amidst the conflict between India and Pakistan in May, compared to Rs 5,377.75 crore in the first quarter of 2024-25.

"This represents a growth rate more than four times the 6.41 per cent growth rate registered during the first quarter of 2024-25," Cheema said and also launched a scathing attack on the previous SAD-BJP and Congress-led governments, citing their "failure" to check tax evasion and improve the fiscal health.

He said the AAP government has ensured consistent month-on-month and year-on-year growth.

A GST collection growth rate of 16.25 per cent in 2022-23, 15.51 per cent in 2023-24, and 12.84 per cent in 2024-25, registering a total collection of Rs 62,733 crore in three years.

In contrast, during the Congress regime from 2018-19 to 2021-22, the state merely collected Rs 55,146 crore. Similarly, during the SAD-BJP regime, the state witnessed only 4.57 per cent and 2.67 per cent growth in Value Added Tax (VAT) and Central Sales Tax (CST) collection during 2014-15 and 2015-16, respectively.

"The AAP government has already collected more in three years than the Congress government collected in its entire five years," said Cheema.

--IANS

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