Punjab Finance, Planning, Excise, and Taxation Minister Advocate Harpal Singh Cheema on Wednesday stated that the state has witnessed a web 16.52 % progress price in income from Goods and Services Tax (GST) and a ten.4 % improve in income from Excise as much as December within the present fiscal yr (FY) as in comparison with FY 2022-23.
Disclosing this in a press launch issued right here, Finance Minister Harpal Singh Cheema stated that the online GST assortment as much as December in FY 2023-24 was Rs. 15523.74 crore towards the online GST assortment of Rs. 13322.59 crore throughout the identical interval within the FY 2022-23. Thus, the online improve in GST assortment quantities to Rs. 2201.15 crore, he added.
Adding additional, the Finance Minister stated that the income from Excise as much as December in FY 2022-23 was Rs. 6050.7 crore, whereas, for the present fiscal yr it rose to Rs. 6679.84 crore registering a rise of Rs. 629.14 crore.
Revealing the figures of state’s personal tax income, Harpal Singh Cheema stated that Punjab achieved a progress price of 14.15 % in complete income from VAT, CST, GST, PSDT, and Excise as much as December throughout the present fiscal yr as in comparison with FY 2022-23. He stated that income from VAT, CST, and PSDT displays a progress price of 12 %, 26.8 %, and 5.24 % respectively. He stated that the state’s complete personal tax income over the last 9 months was Rs 27931. 16 crore towards Rs 24468.14 crore collected throughout the identical interval within the yr 2022.
Reiterating the Chief Minister Bhagwant Singh Mann led Punjab Governtment’s dedication to push state into the next orbit of progress and prosperity, the Finance Minister Harpal Singh Cheema stated that the state had witnessed spectacular progress in its personal tax income throughout FY 2022-23 as a result of main reforms adopted by the state authorities, and within the FY 2023-24 many extra reforms are being adopted to take care of the expansion chart whereas extending each assist to the trustworthy taxpayers and tightening the noose across the tax evaders and unlawful liquor commerce.