Odisha Achieves Record GST Collection in February 2024

Bhubaneswar: Odisha has marked a significant milestone by achieving its highest-ever Gross GST collection, comprising CGST, IGST, OGST, and Cess, totaling Rs. 5135.81 Cr in February 2024. This impressive figure surpasses the corresponding collection of Rs. 4519.35 Cr recorded in February 2023, showcasing a robust growth rate of 13.64%. The cumulative Gross GST collection for the fiscal year 2023-24, up to February, stands at Rs. 49638.64 Cr, reflecting an overall growth of 11.07% compared to the same period in FY 2022-23.

In a remarkable achievement, Odisha has also recorded the third-highest State GST (OGST + IGST Settlement) collection, reaching Rs. 2295.41 Cr in February 2024. This marks a substantial increase from the corresponding collection of Rs. 1673.96 Cr in February 2023, exhibiting an extraordinary growth rate of 37.12%. The cumulative collection of State GST up to February 2024 stands at Rs. 21846.55 Cr, representing a remarkable growth rate of 30.74% over the corresponding period in the previous fiscal year.

Under the vigilant monitoring of the Commissionerate of CT & GST, Odisha, the overall collection under all Acts, including OGST/ IGST Settlement, VAT, and Profession Tax, for February 2024 stands at Rs. 3470.75 Cr. This outperforms the collection of Rs. 2765.44 Cr recorded in February 2023, registering an impressive growth rate of 25.50%. The cumulative collection under all Acts up to February 2024 is Rs. 32807.67 Cr, showcasing a commendable growth rate of 20.84% over the corresponding collection up to February 2023.

A notable indicator of economic buoyancy is the generation of waybills, with 23.77 Lakh waybills generated in February 2024 compared to 19.86 Lakh in February 2023. This marks a substantial growth of 19.69%, reflecting the vibrancy of the State economy. Out of the total waybills generated, 14.06 Lakh were intra-state, while 9.71 Lakh were inter-state waybills.

Odisha’s exceptional performance in GST collection signifies a robust economic trajectory, reflecting resilience and growth in the fiscal landscape.