Odisha Registers Record 43 Percent Growth In GST Collections; Highest Among Major States

Bhubaneswar: In what could be seen as a positive development in the economic front in the state, notwithstanding the impact of Covid-19, Odisha has registered a 43 percent growth in GST Collections in the month of December 2021.

The Goods and Services Tax collections of Odisha have touched to new heights with collection of Rs 4,080.14 crore during December ’21 as against Rs 2,860.20 crore during the same month in 2020 – a record growth of 43 percent. This is the highest growth rate among all the major states of the country. The SGST Collections recorded a rise of 46.18% growth in December 2021 with Rs 1118.65 crore collected against Rs 765.26 crore in December 2020. This is for the fourth consecutive month that Odisha’s GST Collections growth rate has been highest among all the states of the country.

The progressive GST collections till December of the current 2021-22 financial year is Rs. 32,113 crore compared to Rs. 20,089 crore in the corresponding period of the previous financial year – a growth of 60 percent.
The collection of OGST during the month of Dec ’21 stood at Rs. 1118.65 crore against a collection of Rs. 765.26 crore during Dec ‘20 recording a robust growth of 46.18%. The collection of Rs. 1118.65 crore during Dec ’21 is also the 3rd highest ever gross collection of OGST by the state since the inception of GST.
There is also collection of Rs. 973.79 crore in CGST, Rs. 1267.63 crore in IGST and 720.07 crore in Cess during December ’21 recording a growth of 65.21%, 31.26% & 33.40% over December’20, respectively.

Gross GST Collection during the 3rd quarter of 21-22 (Oct-Dec) is Rs. 11809.26 crore recording a growth of 51.08% against the corresponding 2nd quarter collection of 20-21.

Growth in GST is mostly driven by mining and manufacturing sectors. Sectoral analysis of top 100 dealer’s GST payments in cash reveals that Rs. 8595 crore of gross revenue (CGST+SGST+IGST+CESS) was collected from the mining sector during the current financial year vis-à-vis Rs. 4714 crore collected from the same dealers during corresponding period of last financial year with a growth of 83%.
The successful auction of iron ore mines last year by the State Government is contributing significantly in increase in tax revenue this year.

Manufacturing sector has also recorded a growth of 142% with a collection of Rs. 8157.93 crore during the current FY vis-à-vis collection of Rs. 3374.61 crore in last FY from top 100 dealers. This is largely due to increase in prices of steel and other metal related products in the 1st two quarters of 21-22.

Similarly, service sector, trading sector and works contract Sector have also recorded a growth of 72%, 89% and 46% in the current FY over the corresponding period of last year.

The total collection of VAT (Petrol & Liquor) is Rs. 759.72 crore during Dec‘21 as against Rs.691.47 crore during Dec ’20 with growth rate of 9.87 %. Out of the above, collection from Petroleum Products is Rs. 589.04 crore during Dec ‘21 as against Rs. 558.85 crore during Dec ‘20 with growth rate of 5.40%.

Similarly, collection from liquor is Rs. 170.67 crore during Dec ‘21 as against Rs. 132.61 crore during December 20 with growth rate of 28.70%.