Bhubaneswar: The state has recorded collection of Rs 954.62 crore Odisha GST (OGST) in the month of March of FY 2020-21 – the highest ever monthly collection since the implementation of GST (July 1, 2017), official sources in Finance department said, Thursday.
The previous highest OGST collection stood at Rs 927.60 crore during April 2019. The growth rate of OGST in March this year was 21.55 per cent with collection of Rs 954.62 crore against Rs 785.35 crore during March 2020.
The gross GST collection (CGST, IGST, SGST & Cess) has registered a growth rate of 25 per cent during last month with collection of Rs 3285.29 crore, against Rs 2641.95 crore collected in March last year.
This is the highest growth rate in gross GST collection amongst the major states in the country during the month, the sources said.
The gross GST growth rate of Odisha was up by 20 per cent in December 2020, 25 per cent in January 2021 and 20 per cent February 2021 respectively as compared to the corresponding period of previous year.
As regards annual growth rate of gross GST, the state collected Rs 29,852 crore in 2020-21 against Rs 29,687 crore collected in the previous year.
Despite the massive setback due to Covid, the gross GST collection has recorded a growth rate of 0.56 per cent, the source said. Moreover, during the first quarter of 2020-21, the GST collection stood at Rs 761.19 crore due to Covid-19 which was -32.79 per cent of the 1st quarter of 2019-20.
The overall loss of OGST during FY 20-21 has come down to Rs 429.85 crore with gross annual collection of Rs 8292.15 crore against Rs 8722.00 crore during FY 2019-20.
Collection of arrear tax (pre-GST period) has also grown by almost 50 per cent with a collection of Rs 189 crore this year, they said.
Total VAT collection (petrol and liquor) in March was Rs 1518.61 crore, which was also the highest during the current fiscal registering a growth rate of 36.04 per cent.
Out of this, collection from petroleum products registered a growth of 41.85 per cent with collection of Rs 1225.93 crore in March 2021 against Rs 864.26 crore in March last year.
VAT from liquor also registered a growth of 16.13 per cent with collection of Rs 292.62 crore in March 2021 against Rs 252.01 crore in the corresponding period of previous fiscal.
PNN