Chandigarh, November 3, 2025: Punjab’s economy has shown unexpected resilience this year, with Goods and Services Tax (GST) collections growing by 21.5 per cent — outpacing both the national average and most neighbouring states.
From April to October 2025, the state’s net GST receipts stood at ₹15,683.59 crore, up from ₹12,907.31 crore in the same period last year. In October alone, the state recorded ₹2,359.16 crore, an increase of 14.4 per cent year-on-year.
Officials said the turnaround came even as the state dealt with widespread floods and a rationalisation of tax slabs under the GST 2.0 regime introduced in September. The reforms, which reduced several rates, were expected to slow growth — but collections rose sharply instead.
The Finance Department has credited the gains to increased digital tracking, anti-evasion efforts, and tighter scrutiny of high-risk taxpayers. A senior official said the surge also reflected better reporting from small and medium businesses as e-invoicing and return filing improved.
With this performance, Punjab now ranks among the top states in GST growth in North India, second only to Haryana.
