: Odisha records robust growth rate of 47% in state GST collection #IndiaNEWS #Business Bhubaneswar: Odisha has attained the highest growth rate of 23 per cent in gross GST collection which was recorded

Odisha records robust growth rate of 47% in state GST collection #IndiaNEWS #Business
Bhubaneswar: Odisha has attained the highest growth rate of 23 per cent in gross GST collection which was recorded at Rs 4101.09 crore during February, 2022 against Rs 3,340.56 crore in the corresponding month in February 21, Odisha Commercial Tax and GST director S K Lohani said Wednesday.
The state has registered a growth of 47% state GST which is again the highest among all major states, he said in a statement.
The OGST collected during February, 2022 was Rs 1,152.37 crore against Rs 781.06 crore in the same month last year, it said.
The gross GST includes OGST, the statement said.
The OGST collection in February this year is also the second highest gross collection of the tax by the state since the inception of GST, it said.
The progressive gross GST collection till February ‘22 is Rs 40210.01 crore against Rs 26567.47 crore till February ‘21 with growth of 51.35%. The corresponding collection of the tax up to February 20 was Rs 27044.37 crore.
The progressive gross SGST collection till February 22 is Rs 11391.76 crore as against Rs. 7337.53 crore collected till February 21 with the growth rate of 55.25%. The corresponding collection up to February 20 was Rs 7936.55 crore, the statement said.
Rs 989.49 crore was collected as CGST, Rs 1223.92 crore as IGST and Rs 735.71 crore as cess during February ‘22, the statement said.
The official said the growth in GST is mostly driven by mining and manufacturing sectors. The successful auction of iron ore mines last year by the state government contributed significantly in increasing the tax revenue this year.
Among the top 100 taxpayers, the mining sector witnessed a growth of 84 per cent, the manufacturing sector 101 per cent during this year. The service, trading and works contract sectors have recorded a growth of 61.37, 69.64 and 38.83 per cent in the current financial over the corresponding period last year, he said.
The total collection of VAT (petrol and liquor) is Rs 836.62 crore during February ‘22 as against Rs 833.96 crore during the same month last year, which is a growth rate of 0.32%. Out of it collection from petroleum products is Rs 641.22 crore and from liquor is Rs 195.40 crore during February 22.
Growth of GST during the current fiscal is a result of better non filer management and regular return scrutiny by circles combined with enforcement activities which have resulted in better compliance by taxpayers, Lohani added.
PTI

Latest stock market news Twitter alternate of India

10% popularity Flash it Bury this