Punjab's revenue from VAT, CST, GST crosses Rs 30,000 cr in Apr-Dec: Cheema

Punjab Finance Minister Harpal Singh Cheema on Thursday said the state has, for the first time, surpassed the Rs 30,000-crore mark in revenue collection as VAT, CST, GST, PSDT (state development tax), and excise in the first nine months of a fiscal year. "In the current fiscal year, the total revenue received from these taxes up to December is Rs 31,156.31 crore, whereas in the fiscal year 2023-24, the total revenue collection from these taxes was Rs 27,927.31 crore," Cheema said in an official statement here. Cheema said the state has also witnessed a significant increase in its net GST and excise revenue for December 2024 compared to December 2023. The state registered an impressive 28.36 per cent increase in net GST revenue and a 21.31 per cent increase in excise revenue, he added. The finance minister further said the revenue collection from net GST alone in December 2024 was Rs 2,013.20 crore -- an increase of Rs 444.84 crore from the net GST collection of Rs 1,568.36 crore in