Odisha Achieves Impressive Growth in GST Collections for January 2024

Bhubaneswar:  Odisha has marked a significant milestone in its economic landscape by recording the second-highest ever collection of Gross GST (CGST+ IGST+ OGST + Cess) in January 2024. The state collected Rs. 4963.16 Cr, exhibiting a robust growth rate of 16.63% compared to the corresponding collection of Rs. 4255.59 Cr in January 2023. The progressive Gross GST collection during FY 2023-24 (till January 24) stands at Rs. 44502.83 Cr, showcasing a commendable growth of 10.78% over the corresponding period of FY 2022-23.

In another noteworthy achievement, Odisha has achieved the third-highest ever collection of State GST (OGST + IGST Settlement) during January 2024. The collection amounted to Rs. 2271.77 Cr, marking an impressive growth rate of 26.15% compared to the collection of Rs. 1800.86 Cr recorded in January 2023. The cumulative collection of State GST (OGST + IGST Settlement) up to January 2024 is Rs. 19600.78 Cr, demonstrating a substantial growth rate of 30.36% over the collection of Rs. 15036.38 Cr up to January 2023.

The overall collection under all Acts monitored by the Commissionerate of CT & GST, Odisha, including OGST/ IGST Settlement, VAT, and Profession Tax during January 2024 reached Rs. 3399.93 Cr, showcasing a growth rate of 15.53% compared to the collection of Rs. 2942.81 Cr in January 2023. The progressive collection under all Acts up to January 24 is Rs. 29391.65 Cr, registering a growth rate of 20.54% over the corresponding collection up to January 23.

The buoyancy in the state’s economy is further evident in the generation of waybills during January 2024. A total of 22.70 Lakh waybills were generated, reflecting a robust growth of 14.02% compared to the 19.90 Lakh waybills generated in January 2023. Out of the total waybills generated, 13.35 Lakh were intra-state waybills, while 9.34 Lakh were inter-state waybills.

The impressive growth in GST collections and waybill generation signifies Odisha’s economic resilience and proactive measures taken by the state government to boost economic activities. The achievements further position Odisha as a key player in contributing to the overall economic growth of the nation.