Odisha registered over 21% growth in GST collection last month
Bhubaneswar: Odisha recorded a growth rate of 21.79 % in gross GST collection in October this year compared to the same month in 2019. The State had recorded a positive growth of 18.3% in September this year compared to September last year. OGST component also recorded a positive growth rate of 5.16% in the second successive month. It had recorded a modest growth of 3.42% last month.
The settlement of IGST for Odisha during October 2020 is Rs 480.83 crore against receipt of Rs 307.69 crore during last October recording a positive growth of 56.27%. Similarly, collection under cess has also witnessed a healthy growth of 57.55% during this month.
However, owing to setback in the first quarter in view of the lockdown, progressive OGST Collection (April-October) continues to be negative at (-) 8.48% as the total collection was Rs 4,309.29 crore as against Rs 4,708.39 crore collected during the said period of the preceding year.
Similarly due to the same reasons the progressive Gross GST collection during April-October’ 20 has been Rs 14,701 crore compared to Rs 17,020 crore during the corresponding period last year.
The VAT collection from non-GST goods registered growth since last month due to increase in consumption as well as the decision to shift to monthly returns for all petroleum dealers instead of quarterly return period prescribed previously.
The collection from petroleum dealers during September and October this year have been Rs 464.25 crore and Rs 514.29 crore, respectively against Rs 431.04 crore and Rs 369.40 crore during September 2019 and October 2019 having a growth of 7.6% & 39%, respectively. Overall, the non-GST revenue has witnessed a healthy growth of 36.05% in October this year compared to same month last year.