Punjab records revenue surge in April with double-digit growth in VAT

Chandigarh, May 3 (PTI) Punjab Finance Minister Harpal Singh Cheema on Sunday said the state has recorded a significant financial boost in April, driven by a double-digit surge in both value added tax (VAT) and Punjab State Development Tax (PSDT) collections.
     The Finance, Excise and Taxation Minister said, "The state successfully secured approximately Rs 265 crore in combined supplementary revenue from these two sectors, an achievement driven entirely by enhanced monitoring mechanisms, stringent enforcement protocols, and a transparent tax administration framework."
     According to an official statement, Cheema said the consistent upward trajectory in these tax domains highlights the government's clear policy priorities.
     "I am pleased to announce that our VAT collections have experienced a remarkable growth of 23.28 per cent for the month of April 2026. This significant momentum has registered an absolute increase of approximately Rs 230 crore for the state exchequer, demonstrating our sustained improvements in tax administration and compliance," Cheema said.
     Elaborating on the concurrent success in the state's development tax revenue, Finance Minister Cheema detailed the highly positive trends witnessed in the PSDT sector.
     He said, "Alongside the strong performance in VAT, our PSDT collections have increased by an impressive 20.43 per cent. This percentage translates directly into an increase of around Rs 35 crore. These figures are a direct reflection of our improved monitoring and rigorous enforcement protocols within the sector."
     The finance minister attributed this overall economic progress to the diligent implementation of advanced monitoring tactics and a steadfast commitment to fair governance.
     He said, "This robust performance in VAT and PSDT underscores our government's focused strategy of combining technology-driven enforcement with proactive taxpayer facilitation. We have built a robust enforcement framework aimed at safeguarding government revenue.
     "I assure the citizens of Punjab that strict actions against tax evasion will continue, while we simultaneously ensure a completely fair and transparent taxation system for all compliant taxpayers."

(This story has not been edited by THE WEEK and is auto-generated from PTI)