Chandigarh, Oct 5: Punjab has registered a record 22.35% growth in Goods and Services Tax (GST) revenue during the first half of the 2025–26 fiscal year, marking one of the strongest financial performances in its recent history as stated by Finance Minister Harpal Singh Cheema.
According to official figures, the state collected ₹13,971 crore in GST between April and September 2025, up from ₹11,418 crore during the same period last year—an increase of ₹2,553 crore. The growth rate, far above the national average of about 6%, reflects what the state government described as the success of its “strong enforcement and transparent financial management.”
Finance Minister Harpal Singh Cheema said Punjab’s GST growth has risen sharply compared to last year’s 5%. “Our consistent action against tax evasion and improved compliance systems have brought remarkable results,” Cheema mentioned.
“This achievement is proof that fiscal discipline and transparency are delivering outcomes for Punjab.”
Officials said the state’s Taxation Department intensified its crackdown on fraudulent claims and tax evasion this year. Between April and September, the department canceled input tax credit worth ₹246 crore from 1,162 taxpayers and filed FIRs in several major tax fraud cases. Revenue from penalties also rose sharply, with a 134% jump in collections from road inspections and enforcement drives.
Beyond GST, Punjab recorded a 10% growth in Value Added Tax (VAT) and Central Sales Tax (CST), and an 11% increase in Punjab State Development Tax (PSDT).
Despite economic headwinds in May 2025—including sluggish consumer demand, export challenges, and what officials described as “war-like” economic conditions—the state sustained its upward momentum, outperforming several others.
Finance Minister Cheema credited Chief Minister Bhagwant Mann’s leadership for the results. “The Chief Minister’s vision for fiscal reform and accountability has strengthened Punjab’s economy and restored public confidence in governance,” he noted.
The state government said the record revenue performance underscores its broader commitment to economic development, administrative reform, and public trust. “This growth is not just about numbers—it reflects the collective trust of the people of Punjab and the government’s resolve to build a financially strong, transparent, and progressive state,” Cheema added.
Officials maintained that this financial momentum will continue to guide Punjab toward new economic milestones in the coming months.
Read more: 22.35% GST surge in Punjab, NA outpaced: FM Cheema
