TaxTMI 
TaxTMI 
Punjab registers 25 pc growth in GST collections in May
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....unjab registers 25 pc growth in GST collections in May<BR>GST<BR>Dated:- 1-6-2025<BR>PTI<BR>Chandigarh, Jun 1 (PTI) Punjab registered a 25.31 per cent on-year growth in net goods and service tax (GST) collections in May to Rs 2,006.31 crore driven by strong tax administration and enhanced compliance. Finance Minister Harpal Singh Cheema said Punjab's net GST revenue rose to Rs 2,006.31 crore in ....
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....May, up from Rs 1,601.14 crore in May 2024, showing an increase of Rs 405.17 crore. This marks the highest-ever GST collection for the month of May in Punjab's history, said Cheema in an official statement. This year's performance clearly indicates a robust and accelerating growth trend in Punjab's fiscal health, he said and attributed the growth to strong tax administration, enhanced complian....
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....ce, and a resilient economic environment fostered under the leadership of Chief Minister Bhagwant Mann. He emphasized that the AAP government's commitment to financial prudence and economic reform led to this consistent upward trend in revenue. Cheema further noted that this surge not only represents the highest year-on-year monthly growth in recent years but also outpaced the national average....
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.... GST growth. "We have curbed tax evasion, improved field-level enforcement, and enabled a seamless taxation framework that supports businesses while safeguarding state revenues," he added. This fiscal milestone is particularly commendable given the challenges Punjab faced as a border state, including heightened India-Pakistan tensions and a war-like situation during the period, he stated. Ke....
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....y actions included the physical verification of 195 bogus firms, leading to blocking of Rs 75.79 crore in fraudulent Input Tax Credit (ITC), detection of major tax evasion in the coal sector, involving off-book transactions exceeding Rs 225 crore and Rs 11.65 crore in evaded tax; and the uncovering of Rs 900 crore in bogus gold bullion transactions in Ludhiana. PTI CHS DRR<BR> News - Press release....
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.... - PIB....