BHUBANESWAR:Even as generation of resources from the mining sector has looked up, poor show in collection of state goods and services tax (SGST) has emerged as a serious cause of worry.
Official sources said in the SGST sector collection is Rs 3,336.67 crore which is far less than what is expected in the State. With less collection of GST, Centre has been compensating the State more. Official sources said the State Government received GST compensation of Rs 282 crore in July.
However, the State has registered a huge growth in revenue generation by August 31 compared to the corresponding period last year, showing signs of recovery of state economy.Revenue generation from mining industries has increased to Rs 3,790 crore by August end, compared to Rs 2,268 crore by the corresponding period last year. Collection of revenue from the mineral sector was Rs 731 crore in August, which is a record.
Improvement in the tax and non-tax revenue of the State came to the fore during a review by Chief Secretary AP Padhi recently. Tax and non-tax revenue collection by August 31 has reached Rs 16,245 crore, an increase from Rs 11,789 crore during the corresponding period last year.As the State Government had presented highest budget of Rs 20,028 crore for 2018-19, the target for tax and non-tax revenue generation has been set at Rs 2,39,850 crore.
Sources said State’s own tax revenue has reached Rs 2365.9 crore by August 31, which is an increase of 32.45 per cent over last year. Besides, VAT has also grown by 29.6 per cent during the period and has reached Rs 2365.9 crore while excise revenue has registered a growth of 25 per cent.
However, there has been a drop in collection from stamps and registration. The collection from this sector has been Rs 442 crore by August 31 compared to Rs 1152 crore in the corresponding period last year.
Collection from the non-tax revenue sector by August 31 was Rs 4,432.71 crore in which metal sector contributed Rs 3,790 crore. While grants from the Centre is expected at Rs 2,4764 crore, the State Government has received Rs 10,550 crore by August 31. The State expects Rs 36,585 crore from share tax in 2018-19. Sources said so far the government has received Rs 12410 crore.