Thu Jan 02 18:36:15 UTC 2025: ## Punjab’s Tax Revenue Surges Past ₹30,000 Crore Mark
**Chandigarh, January 3, 2025** – Punjab has achieved a significant milestone in its fiscal performance, exceeding ₹30,000 crore in tax revenue for the first time within the first nine months of the current fiscal year. Finance Minister Harpal Singh Cheema announced that the state collected ₹31,156.31 crore from Value-Added Tax (VAT), Central Sales Tax (CST), Goods and Services Tax (GST), Punjab State Development Tax (PSDT), and excise duties by December 2024. This represents a substantial increase from the ₹27,927.31 crore collected during the same period in the previous fiscal year (2023-24).
The growth is particularly noteworthy in GST and excise revenue. December 2024 saw a remarkable 28.36% surge in net GST revenue, reaching ₹2,013.20 crore compared to ₹1,568.36 crore in December 2023. Similarly, excise revenue increased by 21.31%, reaching ₹880.92 crore in December 2024, up from ₹726.17 crore the previous year.
Minister Cheema attributed this robust performance to the state’s effective economic policies and the Excise and Taxation Department’s measures to enhance revenue streams. The significant increase across various tax categories signifies a positive trend in Punjab’s economic health.
First Piper 