Reaffirming Punjab’s strong fiscal performance, Finance, Excise and Taxation Minister Advocate Harpal Singh Cheema announced on Monday that the state recorded a robust 14.59 per cent growth in Goods and Services Tax (GST) collections during May 2026.
The Supreme Court on Wednesday upheld the retrospective levy of 28 per cent GST on online gaming bets, holding that the tax was constitutionally valid and did not violate the constitutional framework governing Goods and Services Tax.
The gross GST collection spiked by 8.7 per cent in April to a record of about Rs 2.43 trillion, government data showed.
The report also identifies key structural challenges constraining India's global competitiveness — fragmented state-led branding, limited global marketing outreach, lack of experience-led packaging, and ease-of-travel barriers including connectivity and visa processes.
The Delhi government moves to reset GST operations with large-scale transfers after inspection highlights discipline issues, long postings and complaints from taxpayers over delays and inefficiencies.
In November, the gross GST collection stood at Rs 1,03,492 crore.
The present trend of increasing tax revenues to fund money-guzzling social sector schemes (Rs 12 lakh crore in the last budget) must also stop. Instead of a policy of maximising tax collection, we should go in for a rational and comprehensive taxation policy designed to prevent concentration of wealth and straightening out the glaring inequalities in our society, which would entail reducing GST and bringing back taxes on wealth, inheritance and gifts.
The Union Budget is an important document. An analysis of the budget statement is equally important. The main objectives of analyses and interpretation of the budget are to depict a true and fair picture of the country’s economic status. The other objective is to help discern the intention of the government in terms of economic development, inclusive growth and removing regional disparities.
While presiding over the state level GST Review meeting held at Mandi today, Thakur said the officers who were performing better would be rewarded and those failing in achieving the desired targets would be penalized.
It is believed that Govt has considered various options including raising rates from 5 per cent to 8 per cent and 12 per cent to 15 per cent,
