Punjab SGST cash collection grows 28.29 per cent in October
The state's SGST cash collection reached Rs 1,030.29 crore, outperforming the national growth rate of approximately 14 per cent.
Punjab recorded a 28.29 per cent increase in state goods and services tax (SGST) cash collection in October, according to The Tribune.
Finance Minister Harpal Singh Cheema said on Sunday that the state collected Rs 1,030.29 crore in SGST cash during the month. This is an increase of Rs 227.22 crore compared to the Rs 803.07 crore collected in October last year.
Cheema stated that the October collection is the highest recorded for that month since GST was implemented in 2017. This marks the second time in 2026 that the monthly SGST cash collection has exceeded Rs 1,000 crore.
The state's gross GST collection grew by approximately 14 per cent to Rs 2,716.60 crore in October, up from Rs 2,393.22 crore in the same month last year.
Between April and October, gross GST revenue in Punjab rose 16.39 per cent to Rs 18,047.68 crore, while the national growth for the same period was around 15 per cent.
Additionally, collections for central sales tax (CST) and value added tax (VAT) rose by 23.76 per cent to Rs 763.49 crore in October, compared to Rs 616.93 crore a year ago.