Odisha Posts Over 100% Growth In Retained GST With Highest-Ever Collection In November

Bhubaneswar: Odisha has registered a phenomenal growth rate of 100.77 % in state GST collection in November this year as compared to the same month last year.

The state recorded the highest-ever collection of OGST and IGST settlement with a collection of Rs 2791.45 crore in November this year against Rs 1390.36 crore during the corresponding period last year, according to an official release.

The progressive collection of state GST till November 2023 is Rs 14913.16 crore against Rs 11719.64 crore till November last, registering a growth rate of 27.25%.

Sources said that Odisha usually receive Rs 400 to Rs 450 crore of IGST settlement every month. However, it has received Rs 1,539.85 crore as IGST settlement in November, indicating a massive reversal of credit lying with state PSU/corporation/other taxpayers, who were mostly operating in exempted/non GST sectors like energy and health care. The record growth was registered despite the deduction of around Rs 450 crore by the Centre.

The release billed the collection under all Acts monitored by the Commissionerate of CT & GST, Odisha, including OGST/ IGST Settlement/VAT/Entry Tax and Profession Tax, during November 2023 at Rs 3856.72 crore against Rs 2308.92 crore in November 2022, a growth rate of 67.04%. The progressive collection till November 2023 is Rs 22510.56  crore with a growth rate of 18.91% against the corresponding period last year.

The Gross GST collection (CGST+ IGST+ SGST+ Cess) also saw a growth rate of 3.19% with a collection of Rs 4295.08 crore during November 2023 compared to Rs 4162.26 crore in November 2022. The progressive Gross GST collection during 2023-24 is Rs 35188.25 crore (till November 2023) with growth of 9.75% over corresponding period of 2022-23, it said.

In November this year, 20.85 lakh waybills were generated compared to 18.19 lakh in November 2022, recording a growth of 14.62%  and a buoyancy in the economic sector.

The release added that 2.12 crore of IRNs (e-invoices) were generated by taxpayers of Odisha with total transaction value of Rs. 592999.53  crore till November 2023.