Odisha's GST collection in January posts 25.3 per cent growth
The number of e-way bill generated by dealers from Odisha was 15.26 lakh last month which is the highest number of e-way bills generated in the fiscal.
BHUBANESWAR: Indicating a robust economic recovery post the Covid peak, Odisha has posted a growth of 25.3 per cent (pc) in gross GST collection in January, beating even the last year’s performance.
The overall collection of CGST, IGST, SGST and Cess was Rs 3,137.45 crore against Rs 2,503.97 crore during the corresponding month last year. This is the highest growth in gross GST collection in a month during the current fiscal.
The IGST collection recorded a growth of 71.88 pc in January mopping up Rs 1,158.77 crore as compared to Rs 674.18 crore during the same month in 2020. The rise was due to higher demand from other states for basic materials like iron, steel, aluminium and coal produced in Odisha.
January also saw a growth of 8.17 pc in CGST, 4.48 pc in SGST and 13.31 pc in Cess. The collection of SGST was Rs 777.71 crore against Rs 744.33 crore during the month last year.
Total VAT of Rs 831.78 crore from petrol and liquor during the month was also the highest during the current financial year. It registered a growth of 20.99 per cent.
Collection from petroleum products was up by 24.14 pc with Rs 655.15 crore. VAT from liquor was Rs 176.62 crore at 10.6 pc jump from the previous year’s collection of Rs 159.73 crore.
However, the progressive gross GST Collection (April-January) continued to be negative by 4.2 pc as the total collection could be Rs 23,226 crore as against Rs 24,254 crore collected during the same period previous year.
Commissioner (Commercial Tax and GST) SK Lohani said the collection of gross GST and SGST was highest in a month since the introduction of GST. If the rising trend of revenue collection continues, the shortfall will be recovered by March 31, he said.
“The robust GST collection signifies the revival of economy. Another major reason for the increase in collection is better tax administration through systematic changes that helped in preventing evasion,” Lohani said.
The CT and GST organisation has been focusing on increase in the tax base with constant survey and registration. The number of e-way bill generated by dealers from Odisha was 15.26 lakh last month which is the highest number of e-way bills generated in the fiscal.