Odisha Registers 15.14% Growth In GST Collection In March 2023

Bhubaneswar: Odisha has registered 15.14 per cent growth in gross GST revenue collection in March, 2023 over the collection in the same month last year.

The gross GST revenue collected in the month of March 2023 is Rs 1,60,122 crore of which CGST is Rs 29,546 crore, SGST is Rs 37,314 crore, IGST is Rs 82,907 crore (including Rs 42,503 crore collected on import of goods) and cess is Rs 10,355 crore (including Rs 960 crore collected on import of goods). It is for the fourth time, in the current financial year that the gross GST collection has crossed Rs 1.5 lakh crore mark registering second highest collection since implementation of GST. This month witnessed the highest IGST collection ever, an official release said.

In Odisha, the GST collection in March 2023 was Rs 4,749 crore against Rs 4,125 crore collection in March 2022. The state has registered a growth of 15.14 per cent in GST collection during the month when compared with the month of March last year.

The government has settled Rs 33,408 crore to CGST and Rs 28,187 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States in the month of March 2023 after IGST settlement is Rs 62,954 crore for CGST and Rs 65,501 crore for the SGST.

The revenues for the month of March 2023 are13% higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 8% higher and the revenues from domestic transaction (including import of services) are 14% higher than the revenues from these sources during the same month last year. The return filing during March 2023 has been highest ever. 93.2% of statement of invoices (in GSTR-1) and 91.4% of returns (in GSTR-3B) of February were filed till March 2023 as compared to 83.1% and 84.7%, respectively same month last year.

The total gross collection for 2022-23 stands at Rs 18.10 lakh crore and the average gross monthly collection for the full year is Rs 1.51 lakh crore. The gross revenues in 2022-23 were 22% higher than that last year.