BHUBANESWAR: Odisha has recorded around 100 per cent growth in GST to be retained by the state in November this year as compared to the same month last year. The GST to be retained by the state for the month till Thursday is Rs 2,778 crore against Rs 1,390 crore in November 2022.
Usually, the state used to receive Rs 400 to Rs 450 crore of IGST settlement every month. However, it has received Rs 1,539.85 crore as IGST settlement in November, indicating a massive reversal of credit. Sources said the record growth has been registered despite the deduction of around Rs 450 crore by the Centre.
The IGST settlement this month was around Rs 1,900 crore. This is because of the efforts taken by the Commissionerate to ensure reversal of IGST credit which was lying in the credit ledger of many state PSU/ corporation / other taxpayers, who were mostly operating in exempted/non GST sectors like energy and health care.