 "ITC chief calls for let-up on cigarettes")
To kill a domestic (cigarette) brand in favour of a smuggled one is not in the interest of the country, ITC chairman Y C Deveshwar said at a press conference following the company’s annual general meeting.
The cigarette industry is facing one of the steepest rates of taxation, with the Goods and Services Tax (GST) Council recently increasing the cess on this. In six years, taxes have gone up by 202 per cent.
Deveshwar said anti-tobacco groups were focused on only 11 per cent of the consumption; “89 per cent of the consumption is non-cigarettes”. He added that there were competitive interests
