Home Finance August GST 3884 CR

August GST 3884 CR

Bhubaneswar: While Odisha has collected Rs.3884 Crore in August, the Country’ Gross GST Revenue collected in the month of August 2022 is Rs.1,43,612 Crore.

Odisha continues to register more and more growth in GST Collection continuously.

While in August 2021, State had collected Rs.3317 Crore, collection jumped 17 Percent during August- 2022, officials say.

Out of Gross GST of Rs.1,43,612 Crore, CGST is Rs.24, 710 Crore SGST is Rs.30,951 Crore.

IGST is Rs.77,782 Crore including Rs.42,067 crore collected on import of goods) and cess is Rs.10,168 Crore including  Rs.1,018 crore collected on import of goods).

The government has settled Rs. 29,524 crore to CGST and Rs. 25,119 crore to SGST from IGST. The total revenue of Centre and the States in the month of August 2022 after regular settlement is Rs.54,234 Crore for CGST and Rs.56,070 Crore for the SGST.

The revenues for the month of August 2022 are than higher than 28 Percent of the GST revenues in the same month last year of Rs. 1,12,020 crore.

During the month, revenues from import of goods were 57 Percent higher and the revenues from domestic transaction (including import of services) are higher than the revenues from these sources during the same month last year.

For six months in a row now, the monthly GST revenues have been more than the Rs. 1.4 lakh crore mark. The growth in GST revenue till August 2022 over the same period last year is 33 Percent, continuing to display very high buoyancy.

This is a clear impact of various measures taken by the Council in the past to ensure better compliance. Better reporting coupled with economic recovery has been having positive impact on the GST revenues on a consistent basis.

During the month of July 2022, 7.6 crore e-way bills were generated, which was marginally higher than 7.4 crore in June 2022 and 19% higher than 6.4 crore in June 2021.