On BSE, ITC shares closed at Rs 281.20, up 4.85 per cent from the previous close. On NSE, the scrip settled at Rs 280.25, up 4.40 per cent. Intra-day, ITC shares surged 7.75 per cent to touch Rs 289 on BSE. At NSE, it soared 7.61 per cent to hit 288.90.
The all powerful GST Council, headed by Finance Minister Arun Jaitley and comprising state representatives, yesterday decided that the cess on tobacco products will be capped at a combination of Rs 4,170 per 1,000 sticks or ad valorem of 290 per cent in the new indirect tax regime that is scheduled to roll out from July 1.
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