Officials in Odisha have reported a substantial surge in gross GST (Goods and Services Tax) collection for August 2023 compared to the same month in the previous year. According to the latest figures released on Friday, the state has witnessed a remarkable growth rate of 13.50 percent in GST collections.
In concrete numbers, Odisha’s GST collection for August 2023 soared to Rs 4,408.27 crore, a significant increase from the Rs 3,883.90 crore recorded in August 2022. This robust performance underscores the state’s economic resilience and healthy fiscal management.
Furthermore, when considering the monthly collection to be retained by the state, which includes OGST (Odisha GST) and IGST (Integrated GST) settlements, the figures are even more impressive. In August 2023, the state retained a sum of Rs 1,733.62 crore, reflecting a remarkable growth rate of 38.22 percent compared to the Rs 1,254.24 crore retained in the same month of the previous year.
For the period up to August, Odisha’s cumulative collection from OGST and IGST settlement has reached an impressive Rs 8,877.21 crore, showcasing a commendable growth rate of 21.40 percent.
Digging deeper into the details, the OGST collection has also exhibited robust growth, with an impressive growth rate of 29.66 percent recorded in August 2023. In monetary terms, the state collected Rs 1,332.99 crore in OGST during the last month, a substantial increase from the Rs 1,028.07 crore collected in the corresponding month of the previous year.
The overall tax collection, encompassing various Acts monitored by the Commissionerate of Commercial Tax and GST in Odisha, including GST, VAT (Value Added Tax), Entry Tax, and Profession Tax, amounted to Rs 2,793.38 crore in August 2023. This figure represents a notable growth rate of 25.84 percent compared to the collection of Rs 2,219.81 crore recorded in the same month of 2022.
These impressive fiscal figures not only reflect Odisha’s economic vibrancy but also indicate effective tax administration and a robust business environment in the state. The sustained growth in GST collections signifies a positive trajectory for Odisha’s fiscal health and its contribution to the nation’s economic development.
Prasanta Patnaik