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Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema today said that the state has recorded a 22 percent increase in its tax revenue during April 2023 this year as compared to last year. He said that according to preliminary estimates, the state collected Rs 3988.23 crore from its taxes in the month of April, while Rs 3275.85 crore was collected during the month of April last year.
Harpal Singh Cheema said that there has been a significant increase in the revenue collected from Goods and Services Tax (GST), State Excise and Stamp and Registration during this month. He said that the total tax collection figures are being evaluated by the Finance Department through the Integrated Financial Management System (IFMS) and there may be minor changes in the final figures.
Finance Minister Harpal Cheema further said that the highest increase in GST was Rs 483 crore. During April 2022, the total GST revenue stood at Rs 1532 crore as compared to Rs 2015 crore this year. He said that the excise revenue has increased by Rs 216.48 crore to Rs 781.12 crore this year compared to Rs 564.64 crore in April 2022.
The Finance Minister said that the revenue from stamps and registrations also stood at Rs 441.35 crore which was an increase of Rs 85.95 crore in this month of April as against Rs 355.4 crore in April 2022. He said that the Punjab government led by Chief Minister Bhagwant Mann has cracked down on tax evaders and the current increase in income has been achieved without putting any additional burden on any section of the society.
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