Punjab has recorded a 21.51 % increase in net Goods and Services Tax collection up to October 2025, alongside a robust 14.46 % growth in October alone, Finance Planning, Excise and Taxation Minister Harpal Singh Cheema said on Sunday.
He lauded the state's performance despite Punjab being hit by massive floods this year and the recent rationalisation of tax rates under GST 2.0.
Giving the details of the growth, the Finance Minister said that the state collected ₹ 15,683.59 crore in net GST from April to October 2025, compared to ₹ 12,907.31 crore during the same period in the previous fiscal year (FY), with an impressive gain of ₹ 2,776 crore.
By contrast, the growth rate up to October 2024 in FY 2024-25 was a modest 3.80 %, he added in an official statement.
The state's net GST collection for October 2025 stood at ₹ 2,359.16 crore, marking a significant rise from ₹ 2,061.23 crore in October 2024, registering ₹ 298 crore increase that reflects the State's continued economic momentum, he said.
He emphasised that "this achievement comes in the wake of GST 2.0 reforms implemented in September 2025, which lowered several tax slabs".
"Despite these reduction in tax slab and facing severe floods, Punjab's GST revenue surged, underscoring the success of enhanced compliance, anti-evasion initiatives, and digital monitoring mechanisms.
State's 21.5 % growth far exceeds the national average of 7 %, placing the State among the top performers in North India", Cheema stated.
He further said that post-settlement figures of SGST and IGST further affirm Punjab's fiscal strength, with cumulative receipts growth up to October 2025, "surpassing all neighbouring states except Haryana".
"This performance reflected the resilience of Punjab's trade and industry, especially given that nearly half of the state's districts were flood-affected during this period," he said, as per the statement.
Cheema attributed the results to the Excise and Taxation Department's strategic focus on data analytics, digital integration, and rigorous field enforcement.
He reiterated the Department's commitment to facilitating compliance for honest taxpayers, cracking down on evasion, and driving Punjab's economic revival through transparent and efficient tax governance.
