Odisha March GST collection jumps 25%, India GST revenue hits record Rs 1,23,902 crore

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Odisha continued to show strong GST collection growth in March as it recorded 25% higher tax collection during the last month of the fiscal 2020-21.

The state’s GST collection rose to Rs 3,285.29 crore in March from Rs 2,632.88 crore a year ago.

This comes at a time when India’s gross GST revenue collection in March 2021 hit a record Rs 1,23,902 crore, raising hopes of a strong economic recovery despite rising Covid-19 cases.

Out of India’s total GST collection, CGST was Rs 22,973 crore, SGST was Rs 29,329 crore, IGST at Rs 62,842 crore and Cess was Rs 8,757 crore.

In line with the trend of recovery in the GST revenues over past five months, the revenues for the month of March 2021 were 27% higher than the GST revenues in the same period last year.

GST revenues crossed above Rs 1 lakh crore mark at a stretch for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic.

Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, Income-tax and Customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue over last few months.

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