The Punjab finance, planning, excise and taxation minister Harpal Singh Cheema has stated that the state had collected INR 10,604 crore GST during the first 6 month of this year, stating a growth of 22.6% in GST collection against the same period last year which was INR 8,650 crore.
He also added that the state government has passed the Punjab GST amendment bill 2022 to plug all loopholes, besides stopping bogus billing which would benefit the trader and also increase the revenue of the state.
Punjab finance, planning, taxation and excise minister Harpal Singh Cheema said the state has GST collected ?10,604 crores during the first 6 months of the financial year 22-23, crossing the ?10K crore-mark for 1st time since the enactment of the tax regime.
Issuing a statement here, the finance minister said the state has seen a growth of 22.6% in GST collection in the current financial year as against the same period last year. He further added that during the first 6 months of the last FY, GST collection stood at ?8,650 crore.
Cheema disclosed the GST figures for September 2022 and said the state has registered a growth rate of 22%. He said the GST collection in Punjab for September this year was ?1,710 crore as compared to the collection of ?1,402 in September 2021.
The finance minister said chief minister (CM) Bhagwant Mann-led Punjab government has estimated a GST collection of ?20,550 crores in its maiden budget for the financial year 2022-23. “The state has accomplished more than 50% in the first 6 months,” said Cheema while adding that the state is expected to see a healthy growth in GST collection during the upcoming festival season.
The finance minister said the state govt. has passed the Punjab GST (Amendment) Bill 2022 in the Punjab assembly to plug all loopholes, besides stopping bogus billing which would not only benefit the traders but would also surge the own revenue of the state.
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