Chandigarh, Dec 2 : Punjab Finance Minister Harpal Cheema on Saturday said the state has achieved 16.61 per cent increase in net Goods and Service Tax (GST) collection up to November, and the revenue from Excise recorded a growth rate of 11.45 per cent during the first eight months of FY 2023-24 against the same period of the last fiscal.

The minister said the net GST collection registers an increase of Rs 1987.62 crore in this fiscal with a net revenue collection of Rs 13,955.38 crore against the collection of Rs 11,967.76 crore up to November in 2022-23. 

Revealing the growth achieved in the revenue collection from excise, Cheema said the total revenue from excise in this fiscal is Rs 5,947.47 crore against Rs 5,336.61 crore in the first eight months of 2022-23, registering an increase of Rs 610.86 crore.