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Punjab Finance Minister Harpal Singh Cheema said that during the first four months of the financial year 2022-23, the state will get Rs 5846.31 crore from GST, Rs 2772.08 crore from Excise, Rs 2286.32 crore from VAT, Rs 80.84 crore from CST and Rs. A revenue of Rs 51.62 crore was collected from DT. He said that during the last financial year, a total of Rs 11037.17 crore was received from these sources till the end of July.
The Finance Minister said that the Excise and Taxation Department has continuously improved its performance and collected Rs.6810.76 crore from GST, Rs.3033.78 crore from Excise, Rs.2348.55 crore from VAT, Rs.76.91 crore from CST and Rs.76.91 crore from PSDT during this financial year. 52.71 crores in revenue from He said that so far a total of 12322.71 crore has been received from the above resources, which is 11.65 percent more than the same period of the financial year 2022-23.
Referring to the continuous increase in GST due to Tax Intelligence Unit (TIU) and other technical and administrative reforms, Finance Minister Harpal Singh Cheema said that while GST has recorded a total increase of 16.5 percent during the current financial year so far, Compared to the previous year, there was an increase of 36.07 percent in the revenue received from GST during the month of July this year. He said that the tax department is taking significant steps towards better use of technology to facilitate honest taxpayers and clamp down on tax evaders. He said that in the same direction, a new mobile app will also be released soon under the ‘Bill Layo, Inam Pao’ scheme.
The finance minister said that the previous state government was dependent only on GST compensation and did not take adequate steps to increase revenue. He said that under the leadership of Chief Minister Bhagwant Mann, the Punjab government is making all possible efforts to make the state economically self-reliant so as to ensure the bright future of the state.
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