Odisha records 43% growth rate in GST collection during Dec ‘21

Bhubaneswar, Jan 2: GST collection of Odisha has touched new heights with a collection of Rs 4080.14 crore during December 2021 as against Rs 2860.20 crore collected during December 2020, registering a growth of 43%. The growth of collection during December ‘21 is also the highest amongst major states for the 4th consecutive month. This is also the second highest ever gross collection of GST by the state since launch of GST. The progressive GST collection till December ‘21 is Rs. 32113 crore against Rs. 20089 crore till December ‘20 with growth of 60%. The corresponding collection till December ‘19 was Rs. 21750 crore. The collection of OGST during the month of Dec ’21 is Rs. 1118.65 crore against a collection of Rs. 765.26 crore during Dec ‘20 recording a robust growth of 46.18%. The collection of Rs. 1118.65 crore during Dec ’21 is also the 3rd highest ever gross collection of OGST by the state since the inception of GST. There is also collection of Rs. 973.79 crore in CGST, Rs. 1267.63 crore in IGST and 720.07 crore in Cess during December ’21 recording a growth of 65.21%, 31.26% & 33.40% over December’20, respectively. Gross GST Collection during the 3rd quarter of 21-22 (Oct-Dec) is Rs. 11809.26 crore recording a growth of 51.08% against the corresponding 2nd quarter collection of 20-21. Growth in GST is mostly driven by mining and manufacturing sectors. Sectoral analysis of top 100 dealer’s GST payments in cash reveals that Rs. 8595 crore of gross revenue (CGST+SGST+IGST+CESS) was collected from the mining sector during the current financial year vis-à-vis Rs. 4714 crore collected from the same dealers during corresponding period of last financial year with a growth of 83%. The successful auction of iron ore mines last year by the State Government is contributing significantly in increase in tax revenue this year. Manufacturing sector has also recorded a growth of 142% with a collection of Rs. 8157.93 crore during the current FY vis-à-vis collection of Rs. 3374.61 crore in last FY from top 100 dealers. This is largely due to increase in prices of steel and other metal related products in the 1st two quarters of 21-22. Similarly, service sector, trading sector and works contract Sector have also recorded a growth of 72%, 89% and 46% in the current FY over the corresponding period of last year. The total collection of VAT (Petrol & Liquor) is Rs. 759.72 crore during Dec‘21 as against Rs.691.47 crore during Dec ’20 with growth rate of 9.87 %. Out of the above, collection from Petroleum Products is Rs. 589.04 crore during Dec ‘21 as against Rs. 558.85 crore during Dec ‘20 with growth rate of 5.40%. Similarly, collection from liquor is Rs. 170.67 crore during Dec ‘21 as against Rs. 132.61 crore during December 20 with growth rate of 28.70%.