Odisha Reports 10% Growth in GST Collections for November
Odisha recorded a 10% increase in GST collections during November 2024, collecting ₹4,704 crore compared to ₹4,295 crore in November 2023, as per data from the Union Finance Ministry.
National GST Collection Trends
Gross GST Collections in November 2024:
Total: ₹1.82 lakh crore (8.5% year-on-year growth).
Domestic Revenue: ₹1.40 lakh crore (9.4% growth).
Imports Revenue: ₹42,591 crore (6% growth).
Refunds Issued: ₹19,259 crore (8.9% decline compared to 2023).
Net GST Collections: ₹1.63 lakh crore (11% increase).
Fiscal Year-to-Date (April–November):
2024: ₹12.90 lakh crore.
2023: ₹11.81 lakh crore.
November 2024 GST Breakdown
- Central GST (CGST): ₹34,141 crore.
- State GST (SGST): ₹43,047 crore.
- Integrated GST (IGST): ₹91,828 crore.
- Cess: ₹13,253 crore.
Odisha’s Performance in Context
Odisha’s 10% growth surpasses the national average, reflecting robust tax compliance and economic activity. The state’s proactive measures to boost domestic revenue are contributing to its strong performance.
Key Insights
The highest-ever monthly GST collection in India was recorded in April 2024 at over ₹2.10 lakh crore.
November’s 9.4% growth in domestic GST revenue indicates sustained economic recovery and improved compliance.
Declining refunds suggest faster processing and better cash flow for businesses.
Odisha’s consistent growth positions it as a significant contributor to India’s overall tax revenues, signaling steady economic progress in the region.
