The coastal State logged the country’s highest Goods and services tax (GST) collection growth rate amongst the major States in March-2022 than the same period in the preceding year.
“The GST collection in March-2021 stood at Rs 3,285 crore while it rose to Rs 4,125 crore in March-2022 at a growth rate of 26%, which is highest amongst the major States in the country. The State’s like Andhra Pradesh and Manipur with 18% growth stood 2nd in GST collection in March-2022 than the same period in the preceding year”, Commissioner, Commercial Tax and GST, Sushil Kumar Lohani said on Saturday.
The gross GST collection for the year 2021-22 is Rs. 44334.67 crore against Rs. 29852.76 crore for the financial year 2020-21 with a growth of 49%. The corresponding collection for 2019-20 was Rs. 29686.32 crore.
The collection of Odisha GST (OGST) during the month of March 2022 was Rs. 1351.25 crore against Rs. 954.62 crore during March-2021 with a growth rate of 42%. The collection of Rs. 1351.25 crore during March -2022 is also the highest ever collection of OGST by the state in a month since the inception of GST.
The OGST collection for financial year 2021-22 isRs. 12743.01 Cr as against Rs. 8292.15 Cr collected till March ’21 with growth rate of 54%. The corresponding collection up-to March ’20 was Rs. 8722 Cr.
There is a collection of Rs.1109.85 Cr. in CGST, Rs. 1003.47 Cr in IGST & 660.09 Cr. 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, the Service Sector, Trading and Works Contract Sector have witnessed growth of 56.78%, 52.07% and 36.99% in the current financial year 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%.
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 with collection of Rs. 248.55 Cr. a growth rate of 8.48%.
The growth of GST during the current financial year is a result of faster economic growth coupled with better performance of field functionaries in management of non-filers, the Commissioner of CT & GST, Lohani added.