Home Finance GST Posts 49% Growth

GST Posts 49% Growth

Cuttack: The gross GST collection of the State for the year 2021-22 is Rs. 44334.67 crore against the collection of Rs. 29852.76 crore during the previous financial year 2020-21 registering a growth of 49%, officials said on Saturday.

Continuing with the high growth trend in GST collection, the gross GST collection of Odisha during March 22 has been recorded at Rs 4124.66 crore as against Rs 3285.29 crore collected during March ’21 registering a growth of 26%. This is the highest growth rate amongst all the major states in the country.

The collection of OGST during the month of March ‘22 was Rs. 1351.25 crore against Rs. 954.62 crore during March’21 with a growth rate of 42%. The collection of Rs. 1351.25Cr during March ‘22 is also the highest ever collection of OGST by the state in a month since the inception of GST, the officials said.

The OGST collection for financial year 2021-22 is Rs. 12743.01 crore as against Rs. 8292.15 crore collected till March ’21 with growth rate of 54%. The corresponding collection up-to March ’20 was Rs. 8722 crore.

Similarly, there is a collection of Rs.1109.85 crore in CGST, Rs. 1003.47 crore in IGST & Rs 660.09 crore in Cess during March ‘22.

The growth in GST is mostly driven by mining and manufacturing sectors. Amongst the top 100 taxpayers, while the mining sector witnessed a growth of 81%, the manufacturing sector recorded 84% growth during this year.

Similarly, service sector, trading and works contract sector have witnessed growth of 56.78%, 52.07% and 36.99% in the current fiscal over the corresponding period of last year.

The total collection of VAT (Petrol & Liquor) is Rs. 1687.72 crore during March ‘22 as against Rs.1559.51 crore during March ‘21 with growth rate of 8.22%. Out of the above, collection from petroleum products is Rs. 1257.04 crore while collection from Liquor is Rs. 430.67 crore in the month of March ’22.

The collection from VAT for the entire year 2021-22 is Rs. 9954.91 crore including Rs. 2093.70 crore from Liquor against Rs. 7756.74 crore collected previous year witnessing a growth of 28.34%.

The professional tax also witnessed a decent growth of 8.48% with collection of Rs. 248.55 crore during the year.

The timely and appropriate action of the enforcement wing against erring and recalcitrant dealers has also played an effective role in revenue augmentation.

During the last fiscal, 47654 new taxpayers have been bought under the GST fold. The total e-waybill generated during March ’22 was 18.58 lakh against 16.21 lakh raised during March ’21, thereby witnessing a growth of 14.62%.

As per the instructions of Commissioner of CT & GST, Sushil Kumar Lohani, all Circles have been ensuring at least 90% return filing within the due date.

Further, during the current FY, officers of the circles have completed assessment of 17015 non-filers under OGST Act.

During the year 2021-22, 6 accused persons have been arrested involved in availing & passing on of bogus ITC total amounting to Rs 462.49 crore. Further, 231 business premises have been raided resulting in detection of fraud and collection of tax and penalty to the tune of Rs 35.74 crore on spot.

The tax and penalty collected during FY 22 through mobile activities & Transport godown checking is Rs 23.63 crore

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