BHUBANESWAR: With tax revenue earnings of Rs 1,853.98 crore in October, Odisha has recorded the fourth-highest-ever collection of net GST, which includes state GST and IGST settlement.
The monthly average tax collection for the state is Rs 1,744.3 crore up to October this year against the average tax collection of Rs 1,475.61 crore during the corresponding period last year. The growth rate stood at 18.21 per cent. Of the total revenue, the state GST collection was Rs 1,306.47 crore last month with a growth rate of 23.43 per cent. The collection was Rs 1,058.38 crore in October 2022.
The state recorded around 10.8 per cent growth in gross GST collection in October as compared to the same month the previous year. It collected Rs 4,176.94 crore tax revenue last month against Rs 3,769.44 crore collected during the same month last year.
The collection was the highest at Rs 5,035.74 crore in April followed by Rs 4,408.27 crore in August, Rs 4,397.73 crore in May, Rs 4,379.97 crore in June, Rs 4,249.12 crore in September and Rs 4,245.4 crore in July. The state posted 10.7 per cent growth in progressive gross GST collection in the first seven months of the financial year. The collection during the April-October period stood at Rs 30,893.17 crore.