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Odisha Records GST Growth

Bhubaneswar:Odisha has recorded a growth of 5 per cent in collection of Goods and Services Tax (GST) during the month of October 2022 against the collection of October 2021. 

According to official data released by the Ministry of Finance on Tuesday, the State has collected a total GST revenue of Rs 3,769 crore during last month while it has collected Rs 3,593 crore in the same month, last year.  

It seems that the growth trajectory of GST collection is falling in the State during the past three years.

The State had recorded a growth of 13 per cent in GST collection in the month of September 2022 against the collection of September 2021. 

The GST collection in September 2022 was Rs 3,765 crore against the collection of Rs 3,326 crore in the same month of last year.  

Similarly, the State had collected GST revenue of Rs.3883.90 crore during August 2022 against Rs. 3316.55 crore collected during August 2021 with a growth of 17.11 per cent.

At national-level, the gross GST revenue collected in the month of October 2022 is Rs 1,51,718 crore of which CGST is Rs 26,039 crore, SGST is Rs 33,396 crore, IGST is Rs 81,778 crore (including Rs 37,297 crore collected on import of goods) and Cess is Rs 10,505 crore (including Rs 825 crore collected on import of goods), which is second highest till date.

The Government of India has settled Rs 37,626 crore to CGST and Rs 32,883 crore to SGST from IGST as regular settlement. In addition, Centre has also settled Rs 22,000 crore on adhoc basis in the ratio of 50:50 between Centre and States.

The total revenue of Centre and the States after regular as well as adhoc settlements in the month of October 2022 stands at Rs 74,665 crore for CGST and Rs 77,279 crore for the SGST.

The revenue for October 2022 is second highest monthly collection, next only to the collection in April 2022 and it is for the second time the gross GST collection has crossed Rs. 1.50 lakh crore mark.

October also saw the second highest collection from domestic transactions, next only to April 2022. This is the ninth month and for eight months in a row now, that the monthly GST revenues have been more than the Rs 1.4 lakh crore mark.

During the month of September 2022, 8.3 crore e-way bills were generated, which was significantly higher than 7.7 crore e-way bills generated in August 2022.