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GST Collection Up

Bhubaneswar: The State has recorded a gross GST collection of Rs. 4397.73 crore during May 2023 against the collection of Rs. 3955.75 crore over corresponding period of previous year with a growth rate of 11.17%.

The progressive gross GST collection up to May of the financial year 2023-24 stands at Rs. 9433.47 crore against a collection of Rs. 8865.98 crore up to May of last financial year. The gross GST collection recorded a growth rate of 6.40%.

Further, the collection to be retained by the State consisting of OGST and IGST settlement has recorded a growth of 30.28% during May’23 with collection of Rs. 1675.77 crore against collection of Rs. 1286.29 crore during May’22.

The progressive collection to be retained by the State (OGST + IGST Settlement) till May 2023 stands at Rs. 4034.94 crore while the State had collected Rs. 2966.29 crore from the source till May 2022.  The progressive OGST and IGST collection recorded a growth rate of 36.03%.

The collection under all Acts monitored by the Commissionerate of Commercial Tax & GST, Odisha including GST, VAT, Entry Tax, Profession Tax is Rs. 2711.04 crore during the last month.  In May 2022, the State had collected Rs. 2311.78 crore. The entire revenue collection of the Commercial Tax & GST wing witnessed a growth rate of 17.27% in May.

During May 2023, 20.40 lakh of waybills were generated against 17.26 lakh of waybills generated during May 2022 recording a growth of 18.19% reflecting the buoyancy in the economic sector.