Chandigarh, Dec 24: Punjab posted strong revenue growth in 2025–26, with Goods and Services Tax collections rising more than 16% and excise revenue crossing Rs 7,400 crore by November, Finance Minister Harpal Cheema said Tuesday.
GST collections stood at Rs 17,860.09 crore up to November 2025, marking a 16.03% increase, or Rs 2,467.3 crore more than the same period last year, Cheema said while reviewing the performance of the Excise and Taxation Department. Excise revenue touched Rs 7,401 crore, reflecting an 8.64% year-on-year rise.
“The growth reflects better compliance, stronger enforcement and the impact of targeted policy measures,” Cheema said.
He said the gains were recorded despite GST rate rationalisation in September 2025, when taxes on essential items were reduced from 12% to 5%. VAT and CST collections reached Rs 5,451.76 crore, registering a 3.35% increase over last year.
Under the Excise Policy 2025–26, which has set a revenue target of Rs 11,020 crore, the department continued its upward trend following record collections of Rs 10,723 crore in 2024–25, Cheema said. Enforcement drives led to the registration of 3,860 FIRs and 3,795 arrests to curb liquor smuggling and illicit distillation.
Cheema said the One-Time Settlement Scheme-2025 has settled 3,574 cases so far, resulting in recoveries of Rs 52 crore. He added that data analytics and the Tax Intelligence Unit helped recover Rs 344.06 crore in taxes and penalties, while monitoring GST non-filers led to cash deposits of Rs 2,185.96 crore.
