GST collection on rise in State

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The Goods and Services Tax (GST) collection has improved in Odisha in 2018-19 in comparison to previous years. While during 2017-18, the GST collection was Rs 6,609.27 crore, it rose to Rs 12,063.71 crore in 2018-19, said sources in the Finance Department. It was revealed at a review meeting held on GST by Finance Secretary Ashok Kumar Meena on April 18. Commercial Tax Commissioner Bishnupada Sethi was present. It was revealed that the OGST collection in 2018-19 was Rs 6,687.81 crore against Rs 3,749.94 crore in 2017-18. Monthly average of the IGST collection during 2018-19 was around Rs 1.005.31 crore with a 21.68 per cent growth over the preceding year.

Monthly average collection of the OGST during 2018-19 was Rs 557.32 crore with 18.90 per cent growth. In 2017-18, the IGST monthly collection was Rs 826.16 crore and OGST montly collection was Rs 468.74 crore. Due to Indian Oil’s lump sum deferred payment of Rs 2,934.80 crore during 2017-18, the State received a boost in GST collection and got Rs 19,599.47 crore. Odisha is getting compensation of Rs 4,000 Crore every year from Union Government, which will continue till 2022. Value Added Tax (VAT) collection during 2017-18 was Rs 8275.73 crore and in 2018-19 it went down to Rs 7,279.04 crore. Collection of Profession Tax was Rs 190.01 crore in 2018-19 against Rs 187.83 crore in 2017-18.

Read More at: https://www.dailypioneer.com/2019/state-editions/gst-collection-on-rise-in-state.html