 "A man talks on his mobile phone as he walks past an ITC office building in Kolkata")
The Budget has provided multiple reasons of cheer for ITC. Prior to the Budget announcement, the ITC scrip was expecting an 8-10 per cent increase in duties on cigarettes. The actual hike has come in much lower at 6 per cent (including additional duties).
The tax rates on tobacco, pan bidis, etc has also been increased in the Budget meaningfully. For instance, the duty on pan masala has been hiked by 300 basis points to 9 per cent and that on unmanufactured tobacco has been hiked by 410 basis points or nearly doubled to 8.3 per cent. This is
The tax rates on tobacco, pan bidis, etc has also been increased in the Budget meaningfully. For instance, the duty on pan masala has been hiked by 300 basis points to 9 per cent and that on unmanufactured tobacco has been hiked by 410 basis points or nearly doubled to 8.3 per cent. This is
