Odisha has achieved a remarkable milestone in Goods and Services Tax ( GST ) collections, reaching an unprecedented high of Rs 5,135.81 crore last month. This figure surpasses the previous record set in April 2023 by almost Rs 100 crore, demonstrating a notable surge in economic activity.
The February GST collection witnessed a robust 13.64% increase compared to the same period last year, signaling the state’s thriving economy. The total collection for the fiscal year 2023-24 is poised to exceed the budget estimate, surpassing the projected Rs 35,800 crore.
Official reports highlight Odisha’s progressive gross GST collection until February 2023-24, standing at Rs 49,638.64 crore, showcasing an impressive growth rate of 11.07%. This economic buoyancy is further evidenced by the generation of 23.77 lakh waybills in February, indicating a substantial uptick in economic activity.
Sanjay Kumar Singh, the Commissioner of Commercial Taxes and GST, attributes this exceptional GST revenue performance to the success of the mining and manufacturing sectors. He emphasizes the rise in local consumption and efforts to reverse Integrated GST ( IGST ) credit, contributing to increased revenue.
In a noteworthy achievement, Odisha recorded the third-highest State GST ( SGST ) collection, including IGST settlements, totaling Rs 2,295.41 crore in February. This shows a phenomenal growth of 37.12% compared to the same month last year.
The progressive collection of SGST reflects a growth rate of 30.74%, with Rs 21,846.55 crore collected in the last 11 months of the fiscal year.
Overall, the collection under all acts monitored by the Commissionerate of Commercial Taxes and GST, including OGST, IGST settlement, VAT, and profession tax, amounted to Rs 3,470.75 crore in February.
This substantial increase from Rs 2,765.44 crore collected in February 2023 underscores Odisha’s economic performance and effective revenue mobilization efforts.
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