Odisha registered 24.46 per cent growth in SGST collection during the Financial Year 2019-20

Bhubaneswar: The State registered 24.46 per cent growth in SGST collection during the Financial Year 2019-20 compared to the ptevious year.

While Rs 7,008.07 crore had been collected in 2018-19, the collection figure rose to Rs 8,722 crore in 2019-20.

Similar trend was observed in CGST collection also. It grew from Rs 5296.07 crore in 2018-19 to Rs 6534.36 crore in 2019-20, registering a growth rate of 23.38 per cent.

Cess has shown a marginal growth of 1.44 per cent with Rs 5722.58 crore collected in 2019-20 against Rs 5641.41 crore in 2018-19.

However, growth in IGST continues to show negative trend with a collection of Rs 8707.38 crore during 2019-20 against Rs 9006.15 crore collected in 2018-19. Thus, a negative growth rate of 3.32 per cent occurred.

The adverse impact of COVID-19 can be seen from the fact that f?in March 2020 the gross GST collection remained almost stagnant as a mere 0.27 per cent was recorded. However, the annual gross GST collection (CGST, IGST, SGST & Cess) during 2019-20 showed a positive growth of 10.11 per cent with total collection coming to Rs 29,677.26 crore against Rs 26,951.7 crore in preceding year.

The SGST annual growth rate of 24.46 per cent achieved by Odisha is the highest growth rate amongst the major States.

During 2019-20, as many as 49,249 new taxpayers were brought to the GST fold in Odisha. Amongst non-GST revenue sources, collection of VAT on petroleum products was Rs 5679.25 crore registering a growth of 0.18 per cent. Similarly, collection of VAT on alcohol for human consumption in 2019-20 was Rs 1,767.44 crore, collected at a growth rate of 8.37 per cent. The professional tax collection also showed a growth rate of 5.54 per cent with collection of Rs 215.10 Crore.

In order to provide relief to taxpayers suffering due to outbreak of Covid-19, Government has recently announced a number of measures.

The last date of filing of GSTR-3B due in March, April and May 2020 has been extended till the last week of June 2020 for taxpayers having aggregate annual turnover less than Rs 5 crore without charging of interest, late fee and penalty.

For others, the same would attract a reduced rate of interest 9% per annum from 15 days after due date (current interest rate is 18% per annum).