Bhubaneswar: Odisha registered a growth of 14% in the collection of Goods and Services Tax (GST) in May 2024 over the same month last year.
According to a press release of Ministry of Finance on Saturday, the collection of gross GST revenue in the country for May 2024 stood at Rs 1.73 lakh crore. This represented a 10% year-on-year growth, driven by a strong increase in domestic transactions (up 15.3%) and slowing of imports (down 4.3%).
In Odisha, the GST collection in May 2024 was Rs 5,027 crore compared to Rs 4,398 crore in May 2023. It calculated to a growth of 14% in the GST revenue.
In pre-settlement of State GST (SGST), Odisha registered 13% growth as the collection was Rs 1,415 crore in May 2024 against Rs 1,255 crore in the same month last year.
Similarly, the post-settlement of SGST in the state stood at Rs 2,068 crore in May 2024 compared to Rs 1,676, thus registering a growth of 23%.
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