Punjab: FM bats for extension of GST compensation cess regime beyond 2026
This recommendation was made during the Group of Ministers (GoM) meeting on Compensation Cess, which Finance Minister Cheema attended via video conferencing.
This recommendation was made during the Group of Ministers (GoM) meeting on Compensation Cess, which Finance Minister Cheema attended via video conferencing.
He said the state has seen a shift in its fiscal trajectory since the Chief Minister Bhagwant Singh Mann-led government took office in March 2022.
Punjab Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema on Monday said the state has registered an increase of 16.5 per cent and 20.87 per cent in revenue from Goods and Services Tax (GST) and Excise respectively during the first four months of the financial year 2023-24.
State Finance Minister Cheema said that Chief Minister Bhagwant Mann led Punjab government has estimated a GST collection of Rs 20,550 crore in its maiden budget for the financial year 2022-23.
Shiromani Akali Dal (SAD) leader Bikram Singh Majithia said the party would file a complaint with the Chandigarh Police tomorrow seeking a thorough probe into the entire case.
Pointing out that Congress president Sonia Gandhi is facing an Enforcement Directorate probe, AAP leader and Punjab Finance Minister Harpal Singh Cheema said the Congress is afraid of uttering anything against the BJP to save her.
Accuses BJP of offering Rs 25 crore each to its 10 MLAs
Cheema highlighted that the Chief Minister Bhagwant Mann led Punjab Government has adopted a supportive approach towards honest taxpayers
“Now, the state government is putting all efforts to revive the fiscal health of the state besides fulfilling the guarantees given to the people of Punjab,” he said.
Addressing a Press conference here at Punjab Bhawan, Cheema said the actual receipt growth has been very close to the budget estimated growth 27 per cent in GST for 2022-23.
