Odisha expecting GST compensation grants of Rs.6, 200 Cr for FY 21

Odisha has estimated goods and services tax compensation grants of Rs.6,200 Cr for Financial Year 2020-21. Now this is an increase of 2.9 percent over the revised estimate (RE) of Financial Year 20. “An increase in the compensation requirement of the state reflects a further decrease in the GST revenue growth rate as compared to the 14 per cent growth proposed under the Act”. State excise duty is slated to contribute Rs.5250 crore, marking 14.1 per cent increase over the RE of FY20. In 2020-21, receipts from the state’s share in central taxes are estimated to rise by 19.2 per cent over the 2019-20 RE. However, in 2019-20, devolution is estimated to decrease by 22.3 per cent to Rs 30,453 crore as compared to the budgeted estimate (BE).

https://www.business-standard.com/article/economy-policy/odisha-expecting-gst-compensation-grants-of-rs-6-200-cr-for-fy21-120022400351_1.html