Odisha’s Impressive Growth: GST Collections Hit Record High in February 2024
In an outstanding economic performance, Odisha’s Gross GST collections for fiscal year 2023-24 have increased significantly. According to officials, the on-year gross GST, which includes CGST, IGST, OGST, and Cess, has increased by 13.64%, reaching an all-time high of Rs 5135.81 crore in February 2024, up from Rs 4519.35 crore in the same period last year.
The cumulative gross GST collection for the current fiscal year until February 24 stands at Rs 49638.64 crore, representing an excellent 11.07% increase over the same period in 2022-23.
Odisha has excelled in State GST revenue, with a spectacular growth rate of 37.12%. The state collected Rs 2295.41 crore in February 2024, surpassing the Rs 1673.96 crore collected in February 2023.
The progressive collection of State GST (OGST + IGST settlement) up to February 2024 is Rs 21846.55 crore, representing a healthy growth rate of 30.74% over the collection of Rs 16710.34 crore up to February 2023.
Furthermore, the overall collection under all Acts supervised by the Commissionerate of CT & GST, Odisha, which includes OGST, IGST Settlement, VAT, and Profession Tax, amounted to Rs 3470.75 crore in February 2024. This represents a significant increase of 25.50% compared to the collection of Rs 2765.44 crore in February 2023.
The total collection under all Acts up to February 24 has reached Rs 32807.67 crore, representing an impressive increase rate of 20.84% over the previous collection up to February 23.
Highlighting the state’s economic activities, officials stated that Odisha generated 23.77 lakh waybills in February 2024, a significant increase over 19.86 lakh waybills in the same time in 2023.
