Odisha has reported a substantial increase in State GST collections for June 2024, showcasing significant economic growth and improved tax administration. The state collected ₹2,039.71 crore under State GST (OGST + IGST Settlement), up from ₹1,650.82 crore in June 2023. This marks an impressive growth rate of 23.56%.
Robust Year-to-Date Growth in State GST
The cumulative State GST collection up to June 2024 stands at ₹7,000.98 crore, significantly higher than the ₹5,427.10 crore collected by the same time last year. This year-on-year growth rate of 29% indicates a strong and progressive increase in tax revenue for the state.
Impressive Gross GST Performance
In addition to the growth in State GST, Odisha recorded ₹4,987.27 crore in Gross GST (CGST + IGST + OGST + Cess) in June 2024. This is a notable increase from the ₹4,379.97 crore collected in June 2023, demonstrating a growth rate of 13.87%. For the year-to-date period, Gross GST collections have reached ₹15,916.31 crore, compared to ₹13,813.44 crore for the same period in the previous year, indicating a robust growth rate of 15.22%.
Strong Overall Tax Collection Growth
The total collection under all acts monitored by the Commissionerate of CT & GST, Odisha—which includes OGST, IGST Settlement, VAT, and Profession Tax—reached ₹3,273.49 crore in June 2024. This is an increase from ₹2,783.74 crore collected in June 2023, reflecting a healthy growth rate of 17.59%. The cumulative growth rate for all acts up to June 2024 is an impressive 22.28%, underscoring the state’s enhanced tax efficiency and economic activity.
Surge in E-Way Bill Generation Reflects Economic Buoyancy
The state also saw a significant increase in e-way bill generation, a key indicator of economic activity. In June 2024, 22.87 lakh waybills were generated, compared to 18.79 lakh in June 2023. This 21.71% increase reflects a buoyant and expanding state economy. Of these, 13.81 lakh were intra-state waybills, facilitating movement within Odisha, while 9.05 lakh were inter-state waybills, indicating strong trade and commerce activity beyond the state’s borders.
Contributing Factors and Future Outlook
The surge in GST collections can be attributed to several factors, including improved compliance, economic expansion, and effective enforcement measures by the state’s tax authorities. The increase in e-way bills suggests that there is a robust flow of goods and services, further indicating economic vitality.
Looking ahead, Odisha’s continued focus on enhancing tax compliance and administration is expected to sustain this positive trend in revenue collection. The state’s economic policies, aimed at fostering growth and encouraging business activities, are likely to further bolster tax revenue in the coming months. These promising figures highlight Odisha’s dynamic economic environment and its commitment to fostering sustainable growth through efficient tax practices and proactive governance.
(With inputs from agencies)
