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March 2, 2024 12:27 pm

Punjab registers 22 % increase in own tax revenue this April- Harpal Singh Cheema

The Fact News Service
Chandigarh, May 3

Punjab Finance, Planning, Excise, and Taxation Minister Advocate Harpal Singh Cheema on Tuesday said that the state has recorded an increase of 22 percent in its tax revenue during April 2023 as compared to April 2022.

 

 

He said that as per the initial estimates, the state has collected Rs 3988.23 crore from its taxes during April 2023 against Rs 3275.85 crore collected in April 2022.

 

Disclosing this in a press communique issued here, Finance Minister Advocate Harpal Singh Cheema said that there has been a significant increase in the revenue collected from Goods and Services Tax (GST), State Excise, and Stamps and Registration.

 

He further added that the total tax collection data is being evaluated by the Finance Department through the Integrated Financial Management System (IFMS) and there may be a slight difference in the final data. that during this month,

 

Divulging further, the Finance Minister said that the highest increase of 483 crore rupees was seen in GST. The total GST revenue during April 2022 was Rs 1532 crore while this year the figure stood at Rs 2015 crore.

 

He said that the excise revenue increased by Rs 216.48 crore to Rs 781.12 crore this year compared to Rs 564.64 crore in April 2022.

 

 

He said that the revenue collected from Stamps and Registration also increased by Rs 85.95 crore to Rs 441.35 crore this year as against Rs 355.4 crore in April 2022.

 

Finance Minister Cheema said that the Punjab Government led by Chief Minister Bhagwant Mann has been committed to increasing the state revenue by bringing efficiency and transparency in the system.

 

He said that the Punjab Government has tightened the noose around tax evaders and the current increase in revenue has been earned without putting any extra burden on any section of the society.

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