Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema said on Tuesday that the state has collected 10,604 crore GST during the first six months of the current financial year, surpassing it 10 thousand crore marks for the first time since the implementation of the tax regime.

Issuing a statement here, the finance minister said the state has seen a 22.6% growth in BDH collection in the current financial year over the same period last year.

He further added that in the first six months of the last financial year, the collection of BDH amounted to 8,650 crores.

Unveiling the GST figures for September 2022, Cheema said the state has registered a growth rate of 22%. He said that the GST collection for September this year was 1,710 crore as compared to the collection of 1,402 in September 2021.

The Finance Minister said that the Chief Minister (CM) Bhagwant Mann led Punjab government has estimated a BDH collection of 20,550 crore in its first budget for the financial year 2022-2023. “The state has achieved more than 50% in the first six months,” Chema said, adding that the state is expected to see a healthy growth in GST collection during the upcoming festival season.

The Finance Minister said that the state government has passed the Punjab Goods and Services Tax (Amendment) Bill, 2022 in the Punjab Assembly to close all the loopholes besides stopping fraudulent collection which will not only benefit the merchants, but will also increase the state’s own revenues.



Source link