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GST Collection Up By 43%

Bhubaneswar: Odisha has recorded 43 per cent growth in GST collection during the month of December 2021 compared to the same month of last year.

GST collection of Odisha has touched new heights with a collection of Rs 4,080 crore during December 2021 as against Rs 2860 crore collected during December 2020 registering a growth of 43 per cent. In fact, this is the highest growth recorded by any major State in the last month of 2021.

In November, the GST collection was Rs 4136 crore, which was 64 per cent more than the amount collected during November 2020.

This growth during the past two to three months is a result of an increase in collection from the automobile, mining and manufacturing sector. Further, non filer management and regular return scrutiny by Circles combined with enforcement activities has resulted in better compliance by taxpayers, officials said.

Meanwhile, the gross GST revenue collected at all India level in the month of December 2021 was Rs 1,29,780 crore of which CGST was Rs 22,578 crore, SGST was Rs 28,658 crore, IGST was Rs 69,155 crore (including Rs 37,527 crore collected on import of goods) and cess is Rs 9,389 crore (including Rs 614 crore collected on import of goods).

The Government of India has settled Rs 25,568 crore to CGST and Rs 21,102 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States in the month of December 2021 after settlements is Rs 48,146 crore for CGST and Rs 49,760 crore for the SGST.

The National level revenues for the month of December 2021 are 13 per cent higher than the GST revenues in the same month last year and 26 per cent higher than the GST revenues in December 2019.

During the last month, revenue collection from import of goods was 36 per cent higher and the revenues from domestic transactions (including import of services) are 5 per cent higher than the revenues from these sources during the same month last year.

The GST collection in December was close to Rs 1.30 lakh crore despite reduction of 17 per cent in the number of e-way bills generated in the month of November, 2021 (6.1 crore) as compared to the month of October, 2021 (7.4 crore) due to improved tax compliance and better tax administration by both Central and State Tax authorities.

The average monthly gross GST collection for the third quarter of the current year has been Rs 1.30 lakh crore against the average monthly collection of Rs 1.10 lakh crore and Rs 1.15 lakh crore in the first and second quarters respectively. Coupled with economic recovery, anti-evasion activities, especially action against fake billers have been contributing to the enhanced GST. The improvement in revenue has also been due to various rate rationalization measures undertaken by the Council to correct inverted duty structure. It is expected that the positive trend in the revenues will continue in the last quarter as well, sources said.

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