 "ITC follows the Aashirvaad trail")
ITC has moved higher to its new high of Rs 353, up 9% in early morning trade, extending its Friday’s 4% gain on BSE, in the backdrop of implementation of the goods and services tax (GST) from July 1.
Analysts at Reliance Securities expects ITC to benefit in GST regime, as the tax outgo will remain similar to the current tax structure. That apart, the new regime also provides more clarity and uniformity in taxes across states.
“Tax incidence comes down due to removal of dual taxation. Earlier, Value Added Tax (VAT) was applied on MRP, which included
Analysts at Reliance Securities expects ITC to benefit in GST regime, as the tax outgo will remain similar to the current tax structure. That apart, the new regime also provides more clarity and uniformity in taxes across states.
“Tax incidence comes down due to removal of dual taxation. Earlier, Value Added Tax (VAT) was applied on MRP, which included
