Home Finance GST Collection Records 62.55 % Growth

GST Collection Records 62.55 % Growth

Cuttack: The GST collection till October of the financial year 2021-22 registered a growth of 62.55 per cent with collection of Rs 23,897.20 crore as against the Rs 14, 701.25 crore during the corresponding period last fiscal.

The collection till October’19 was Rs 17,019.92 crore.

The GST collection of Odisha continues to grow with a collection of Rs 3593.34 crore in October’21 as against Rs 2,428.27 crore collected during October‘20 registering a growth of 49 per cent.

The growth rate achieved by Odisha is also the highest amongst major States for the second consecutive month, said an official.

The collection of Rs 3,593crore during October’21 is also the 3rd highest ever gross collection of GST by the state since launch of GST, he said.

The collection of OGST during the month of October ’21 is Rs 1053.48 crore against a collection of Rs 660.09 crore in October‘20 recording a robust growth of 59.60 per cent.

The collection of Rs. 1053 crore during October’21 is also the 3rd highest ever gross collection of OGST by the State, the official further said.

Similarly, the progressive collection of OGST upto October’21 is Rs 6819.91 crore while Rs 4331.54 crore collected upto October’20 thereby recording a progressive growth of 57.45 per cent. The corresponding figure till October ’19 was Rs. 4960.22 crore.

There is also a collection of Rs.907.29 crore in CGST, Rs 1005.50 crore in IGST & 627.07 crore in Cess during October ’21 recording a growth of 70.31%, 37.43% & 24.47 % over October ’20 respectively.

The total collection of VAT (Petrol & Liquor) is Rs 728.32 crore during October‘21 as against Rs 696.43 crore during October’20 with growth rate of 4.58 percent.

Out of the above, collection from petroleum products is Rs 566.61 crore in the months of October 2021 whereas Rs 515.96 crore collected during October 2020. So, it has recorded a growth rate of 9.82 per cent.

This growth during October ’21 is due to the better compliance by dealers having turnover of more than Rs 5 crore as well as follow up action of non-filer assessment and return scrutiny in case of wrong return filers, the officials said.

All Circles have been instructed to ensure at least 90 per cent return filing within the due date. In the current FY, 27752 notices have been issued to non-filers while 6359 assessments initiated for non filing of returns.

Increase in collection is also due to better tax compliance by manufacturing as well as mining sector and collection from matured GST demand made by tax officers after return scrutiny.

The total e-waybill generated during October ’21 was 15.15 lakh against 13.28 lakh bills generated during October’20 witnessing a growth of 14.08 per cent.

CT & GST Organization has been focusing on increasing the tax-base of GST with regular survey and registration. 26192  numbers of new registrants have been brought under the GST during the current FY.

This survey is being further enhanced in the shape of a special drive for “survey and registration” of all potential GST & Profession Tax (PT) Payers by State Tax Officials throughout the State from November 1 to December 31 .

All GST Taxpayers irrespective of their jurisdiction are advised to enroll themselves under PT Act and pay tax accordingly.

During the recent review with Tax Officials, Commissioner of CT & GST, Sushil Kumar Lohani has instructed all the field officers to detect wrong return filers by applying data analytics and collect all taxes from them as per the provisions of law.

Tax Officials have been further instructed to facilitate genuine tax payers and ensure that they are not put to any unnecessary harassment.