Chandigarh: Punjab has recorded strong and broad-based growth in GST collections in January 2026, reflecting improved compliance, focused enforcement and sustained economic activity, despite revenue challenges arising from GST 2.0 rate rationalisation. Finance, Excise and Taxation Minister Harpal Singh Cheema said the State’s gross GST collection in January stood at ₹2,452.66 crore, while net GST collections registered a year-on-year increase of ₹315 crore, marking a growth of 15.7 percent over January 2025. This performance is significant as Punjab faced an estimated monthly revenue loss of around ₹250 crore due to rate reductions in key sectors, yet managed to outperform the national trend.
The Minister further stated that on a year-to-date basis up to January 2026, net GST collections grew by 13.4 percent, rising from ₹19,415 crore to ₹22,014 crore, while gross collections increased by 13 percent. A major highlight of the month was Punjab’s SGST cash collections, which grew by 14.4 percent—the highest among all States—well above the national average of around 6 percent. At the same time, the State maintained a taxpayer-friendly approach by issuing ₹129 crore in SGST refunds during January, with total GST refunds of about ₹300 crore.
Cheema added that enforcement efforts have also delivered strong results, with State Intelligence and Preventive Units detecting and preventing over ₹200 crore in ITC theft during January alone. Total enforcement recoveries in the current financial year are nearing ₹1,000 crore, the highest ever. Despite additional fiscal pressure due to IGST settlement deductions by the Centre, Punjab has successfully protected its revenue base through improved analytics, targeted enforcement and enhanced voluntary compliance, ensuring growth well above the national average.
