Image for illustrative purposes only.
BHUBANESWAR: Continuing the momentum, Odisha recorded 15.14 per cent (pc) growth in gross GST collection in March of the 2022-23 financial year. The overall collection of Rs 4,749.02 crore last month is the second-highest gross collection of all time.
The collection of GST revenue to be retained by the state would be around Rs 1,977.45 crore, which includes state GST and IGST settlement. It posted a growth of 15.69 per cent as the state had received a revenue of Rs 1,709.14 crore in March, 2022.
With a growth rate of 14.48 per cent , the progressive collection of GST revenue to be retained by the state during 2022-23 is Rs 18,766.58 crore as against Rs 16,392.24 crore collected during 2021-22.
The collection of CGST during March was Rs 1,146.15 crore, about 3.27 per cent higher than last year. The state registered around nine per cent growth in progressive CGST collection in 2022-23 which stood at Rs 11,798.62 crore.
Apart from GST, collection of VAT from petroleum products and liquor also continued to rise showing a healthy trend in the state. With a growth rate of 13.21 per cent, the VAT was Rs 1,917.29 crore in March as against Rs 1,693.53 crore in the same month last year. Of the VAT collection in March, petroleum products accounted for Rs 1452.03 crore and liquor Rs 465.26 crore recording a growth of 15.29 per cent and 7.18 per cent respectively.
The progressive collection of VAT during 2022-23 is Rs 11,974.65 crore (Rs 9,388.93 crore from petroleum products and Rs 2,585.72 crore from liquor) which is 20.16 per cent higher than Rs 9,965.6 during the corresponding period of 2021-22.
The collection of cess was Rs 722.58 crore in March as against Rs 660.09 crore in the same month the previous year. The progressive collection of cess during 2022-23 is recorded at Rs 8,874.04 crore, which is 13.19 per cent higher than that of 2021-22.
Overall, the CT and GST Commissionerate has collected Rs 31,158.33 crore during 2022-23 under all segments (GST, VAT, profession tax and ET) as against Rs 26,756.18 crore in 2021-22 recording a growth of 16.45 per cent.
As many as 21.91 lakh of waybills have been generated in March 2023 vis-a-vis Rs 18.58 lakh waybills in March 2022.“A sustained healthy momentum of activities could help in GST inflows for last several months post Covid,” said a GST official.
