GST Shake-Up: Delta Corp and Beverage Stocks Plummet Amidst Tax Hikes

GST Shake-Up: Delta Corp and Beverage Stocks Plummet Amidst Tax Hikes

Delta Corp shares fell over 8% as a new 40% tax is applied to various services including casinos and race clubs. Varun Beverages and other companies face similar declines due to a GST increase on carbonated drinks from 28% to 40%, affecting the beverage industry's pricing dynamics.

Carbonated soft drinks, non-alcoholic beverages to become costlier with GST rate hiked to 40 pc

New Delhi, Sep 3 (PTI) Popular soft drinks, such as Coca-Cola and Pepsi, along with other non-alcoholic beverages, will become costlier, with the GST Council on Wednesday approving a hike in tax rate on carbonated beverages to 40 per cent from 28 per cent at present.As part of the reforms of the Goods and Services Tax (GST), the council increased the rate on carbonated beverages of fruit drink or carbonated beverages with fruit juice to 40 per c…