ITC On Cigarette GST Rate

According to media reports, the Indian government could consider raising GST on cigarettes and other tobacco products to 40 per cent once levy of compensation cess on cigarettes is stopped

However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then

Firm's sales volume to suffer a hit but its operating margins, profitability to remain stable

The cigarette industry is facing one of the steepest rates of taxation, with the GST increasing cess