Bhubaneswar: Tax collection of Odisha has grown by 2.3 percent after the GST system came into being in July 2017. During July and October this year, in the new tax regime Odisha has collected Rs 3735.14 crore as tax while it was Rs 3675.28 crore in the corresponding period of the last year.
Odisha Finance Minister Sashi Bhusan Behera provided the data in the Odisha Assembly on Monday while replying to questions in this regard as he added that the state has collected Rs 4415.20 crore in July and October 2017 in the form of tax on Petrol, diesel, turbine fuel, Natural gas and crude oil and liquor. These items do not come under the GST system.
During his reply the Finance Minister also informed that the central government had provided Rs 1020 crore to Odisha as compensation for the loss it had suffered in the GST system. The state has already received Rs 333 crore towards the loss in July and August while another Rs 687 crore has been sanctioned for September and October, said the Minister.
As per provision in the GST Act a state is entitled to get compensation if its tax collection can not register growth at the rate of 14 percent. The base year for the calculation of compensation is 2015-16.
In 2015-16 fiscal Odisha has collected Rs 11,047 crore, said the Minister, adding in 2017-18 it should be Rs 14,357.76 crore.