For the third consecutive month, the economy is on the recovery path as Odisha has successfully achieved growth in GST collection. As per the reports, the comprehensive collections of GST, CGST, IGST, and Cess is 2,528.01 crore in November, which is against the collected amount of the corresponding month in last year.
Last year the collected amount was around 2,347.03 crore in November, which is a growth of approximately 7.71 percent. In October 2020, Odisha had collected 2,428.27 crore, which is about 21.79 percent against 1993.84 crores in October 2019. The increase was 19.3 pc in September with the collection of Rs 2,383.99 crore as compared to Rs 2,015.04 crore during the month last year. However, Odisha’s GST collection in November was 2.71 pc, which was less than that of the previous year’s November -Rs 681.96 crore.
In September, the State Government had collected Rs 631.08 crore, and in October, it collected around Rs 660.09 crore compared to Rs 610.19 crore and Rs 627.73 crore during the same period in 2019, where the growth was of 3.42 pc and 5.16 pc, respectively.
SK Lohani, Commissioner of Commercial Taxes and GST, informed that the trivial shortage in Odisha’s GST collection in November was because of indolent extension in the collection from works contractors and a substantial tax component paid from the input tax credit taken by the automobile and manufacturing sector dealers.
He further said that apart from this, the mining sector’s collection could not manifest much growth due to the non-operation of some of the mines. It is estimated that the collection will be improved in the coming months with a gradual opening up of most sectors in the economy, increased government expenditure in infrastructure projects, and increased public consumption.
However, the progressive State GST Collection from April to November continued to be negative at 11.44 pc. The total collection could be Rs 5,013.50 crore against Rs 5,661.18 crore collected during the same period the previous year.
Article Written by Dikhya Mohanty
Image Source: Google
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