ITC, Godfrey Phillips, Varun Beverages shares slip on report of likely GST hike on cigarettes, tobacco, aerated drinks
2 weeks, 6 days ago

ITC, Godfrey Phillips, Varun Beverages shares slip on report of likely GST hike on cigarettes, tobacco, aerated drinks

Live Mint  

Share prices of cigarette makers ITC, Godfrey Phillips and VST Industries along with Varun Beverages declined on Tuesday after reports suggested that the tax slab on ‘sin goods’ is likely to be hiked. Varun Beverages share price plunged as much as 5.18%, ITC stock price declined 3%, Godfrey Phillips India shares declined as much as 3.16%, while VST Industries stock fell 2.27% during Tuesday’s trading. The fall in these shares comes after a report said that the Group of Ministers on goods and service tax rate rationalisation has recommended to raise tax on cigarettes, aerated beverages, tobacco, and related ‘sin’ products to 35% from the current 28%. In a stock exchange filing, ITC said, “We write to advise that the news item under reference is not attributable to any event / information emanating from within the Company and therefore, we are unable to comment on the same.” At 2:40 PM, ITC share price was down 1.12% at ₹471.80 apiece, Godfrey Phillips shares were down 1.03% at ₹5,698.30, VST Industries share price traded 0.25% higher at ₹326.50, while Varun Beverages shares were down 1.90% at ₹620.75 apiece on the BSE.

Price Share Rate Itc Varun Beverages Beverages Godfrey Phillips Vst Industries  gst  phillips  beverages  vst  itc  tax  varun  report  likely  rate  share  35  slip  shares  price  hike  tobacco

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Retailers urge FM and GST Council not to go for higher 35 pc tax rate
1 week, 4 days ago

Retailers urge FM and GST Council not to go for higher 35 pc tax rate

Live Mint  

New Delhi, Dec 12 Indian Sellers Collective, an umbrella body of trade associations and sellers across the country, has urged the finance minister and the GST Council not to accept some of GST rate rationalisation suggestions, including the proposal for inclusion of a special rate of 35 per cent on some products. The sellers body is of the view that …

GoM proposes GST hike: Cigarettes, tobacco, aerated beverages may be hiked to 35%; GST Council decision on Dec 21
2 weeks, 6 days ago

GoM proposes GST hike: Cigarettes, tobacco, aerated beverages may be hiked to 35%; GST Council decision on Dec 21

The Hindu  

The GoM on GST rate rationalisation on Monday decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products to 35% from the present 28%, an official said. In total, the GoM on rate rationalisation will propose tax rate tweaks on 148 items to the GST Council. The four-tier tax slab of 5, 12, 18, and …

Shares Of ITC, Varun Beverages Slip On Tuesday After Reports State GST Hike Likely On Tobacco, Aerated Drinks
2 weeks, 6 days ago

Shares Of ITC, Varun Beverages Slip On Tuesday After Reports State GST Hike Likely On Tobacco, Aerated Drinks

ABP News  

Shares of ITC and Varun Beverages slumped on Tuesday morning after reports emerged claiming that the authorities might hike the Goods and Services Tax on cigarettes, tobacco, and aerated drinks. Aerated drinks maker Varun Beverages witnessed a 5 per cent plunge in the stock market in the morning trading hours to touch Rs 600 amid heavy volumes. At the same …

GST on cigarettes, tobacco, aerated drinks may rise to 35%: Report
2 weeks, 6 days ago

GST on cigarettes, tobacco, aerated drinks may rise to 35%: Report

India Today  

The Group of Ministers on GST rate rationalisation has proposed increasing the tax on products such as aerated beverages, cigarettes, and other tobacco-related items to 35%, up from the current rate of 28%, reported news agency PTI. GST RATE CHANGES DISCUSSED The GoM, led by Bihar Deputy Chief Minister Samrat Choudhary, met on Monday to finalise the proposed rate adjustments. …

Share price of ITC, Godfrey Phillips to be in focus today. Here's why
2 weeks, 6 days ago

Share price of ITC, Godfrey Phillips to be in focus today. Here's why

India Today  

Stock markets have been volatile in recent trading sessions, but they started the week on a positive note, ending higher on Monday despite mixed global cues. Shares of FMCG giants ITC and Godfrey Phillips are expected to be closely watched today following the latest meeting of the Group of Ministers on GST rate rationalisation. WHY ITC AND GODFREY PHILLIPS ARE …

Explained: Why ITC, Godfrey Phillips shares fell in early trade today
2 weeks, 6 days ago

Explained: Why ITC, Godfrey Phillips shares fell in early trade today

India Today  

Shares of cigarette companies, including ITC Ltd and Godfrey Phillips India, saw a decline in early trade on Tuesday following reports that the Group of Ministers on GST rate rationalisation is considering raising taxes on sin goods like cigarettes, tobacco, and pan masala. Among the key discussions was a proposal to increase the tax on 'sin goods,' which includes cigarettes, …

GST on cigarettes, tobacco, aerated beverages likely to be hiked: Here’s what we know
Trending News
3 weeks ago

GST on cigarettes, tobacco, aerated beverages likely to be hiked: Here’s what we know

Live Mint  

The Group of Ministers on Monday, December 2 decided to hike the rate of goods and service tax charged on goods like aerated beverages, cigarettes, tobacco and related products to 35 per cent, from its current level of 28 per cent, reported the news agency PTI citing an official aware of the development. The four-tier tax slab of 5, 12, …

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