By Bizodisha Bureau, Bhubaneswar, January 2, 2022: Odisha has excelled in its Goods and Services Tax (GST) collection in December 2021 which was up by 43 per cent over the corresponding period in 2020.

The growth is also the highest among major states for the fourth consecutive month as well as the second-highest ever gross collection of GST by the state ever since launch of the new tax regime.

The amount in December 2021 is estimated at Rs 4,080.14 crore against Rs 2,860-20 crore in the same period in 2020, an official statement said.

The progressive GST collection till December of the current 2021-22 fiscal is Rs. 32,113 crore compared to Rs. 20,089 crore in the corresponding period of the previous fiscal registering a growth of 60 per cent.

Till December of 2019-20 fiscal, the figure was Rs 21,750 crore.

The collection of Odisha Goods and Services Tax (OGST) in December 2021 is estimated at Rs. 1,118.65 crore, a growth of 46.18 per cent, over Rs. 765.26 crore during December 2020.

The amount of Rs. 1118.65 crore during December 2021 is also the third-highest ever gross collection of OGST by the state since the inception of GST, it said.

There was also a collection of Rs.973.79 crore in central GST (CGST), Rs. 1,267.63 crore in integrated GST (IGST) and Rs 720.07crore as cess during December 2021, recording a growth of 65.21 per cent, 31.26 per cent, and 33.40 per cent respectively over December 2020, the statement said.

Gross GST collection during the third quarter of the current fiscal is Rs. 11,809.26 crore recording a growth of 51.08 per cent against the corresponding period of 2020-21.

The growth in GST is mostly driven by the mining and manufacturing sectors, officials said.

A sectoral analysis of GST payments in cash of top 100 dealers reveals that Rs. 8,595 crore of gross revenue (CGST+SGST+IGST+CESS) was collected from the mining sector during the current financial year registering a growth of 83 per cent over Rs. 4,714 crore collected from the same dealers during the corresponding period of the last financial year.

The successful auction of iron ore mines last year by the state government is contributing significantly to an increase in tax revenue this year, it said.

The manufacturing sector has also recorded a growth of 142 per cent with a collection of Rs. 8157.93 crore during the current fiscal vis-à-vis f Rs. 3374.61 crore in the last financial year from the top 100 dealers.

This is largely due to an increase in prices of steel and other metal-related products in the first two quarters of 2021-22, it said.

Similarly, the service sector, trading sector and works contract sector have also recorded a growth of 72 per cent, 89 per cent, and 46 per cent respectively in the current financial year over the corresponding period of last year.