Punjab’s Finance Minister, Harpal Cheema, announced that the state’s Excise and Taxation Department had set a new record for excise revenue in the financial year 2024-25, reaching an impressive total of Rs 10,743.72 crore.
This marked an annual growth of 16.36 percent compared to the previous year. He further stated that the state’s total revenue collection from various sources such as VAT, CST, GST, PSDT, and excise amounted to Rs 42,289.97 crore in 2024-25.
This was a notable increase of 12.47 percent, crossing the Rs 40,000 crore mark for the first time in the state’s history.
The Finance Minister attributed this significant growth in excise revenue to the successful excise policies implemented by the Punjab government. He highlighted that excise revenue had seen a remarkable rise of Rs 598.72 crore, exceeding the set target of Rs 10,145 crore for 2024-25.
Punjab’s excise revenue also saw a substantial growth rate of 30.67 percent in March 2025, with Rs 1,477.04 crore collected, compared to Rs 1,130.37 crore in March 2024. This achievement marked the first time the state had surpassed the five-digit mark in excise revenue.
In addition to excise revenue, Cheema noted a positive trend in Goods and Services Tax (GST) collections. The state saw a net growth of 12.99 percent in GST, with total collections reaching Rs 23,642.15 crore in 2024-25, compared to Rs 20,923.37 crore the previous year.
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March 2025 alone saw a net GST collection of Rs 1,913.82 crore, reflecting an 8.63 percent growth from the Rs 1,761.7 crore collected in March 2024. Furthermore, the state achieved an annual collection of Rs 7,353.32 crore from Value Added Tax (VAT), a 5.42 per cent increase from the previous year’s Rs 6,975.3 crore.
Cheema attributed these achievements to the government’s transparent excise policies and the effective enforcement efforts of the Excise and Taxation Department, which successfully reduced liquor smuggling from neighbouring states.
He also credited the increase in GST revenue to enhanced tax compliance initiatives, such as the ‘Bill Liayo Inam Pao’ scheme, and the department’s strategic use of technology, the Tax Intelligence Unit, and rigorous enforcement activities.
The Finance Minister emphasised that the department’s dual approach—supporting honest taxpayers while cracking down on tax evaders—has played a key role in ensuring a fair and transparent taxation system in Punjab.
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