US EditionTobacco, Liquor, Fancy Cars: What Will Cost More As Centre Plans GST Revision
4 Articles
4 Articles
Tobacco, Liquor, Fancy Cars: What Will Cost More As Centre Plans GST Revision
Cigarettes, carbonated drinks, and high-end cars are among items that may become more expensive if a proposal to replace the expiring compensation cess - in the Goods and Services Tax system - with cesses on health and clean energy.
GST Revision: A major change can come in the GST law implemented in the country. The government plans to implement two new cess in place of the existing compensation cess - one health cess and the other clean energy cess. This will directly affect products like cigarettes, cold drinks, luxury cars and coal. If this proposal is passed, then the burden on the common man's pocket is sure to increase. Health cess will be imposed on these things Heal…
New Delhi: Goods and Services Tax rates on cigarettes, carbonated drinks and high-end cars may rise as a proposal to replace the compensation cess with a health and green cess is being considered, NDTV reported citing sources. Currently, select items fall under the highest GST slab of 28% and are subject to the compensation cess. The cess, introduced in 2017 to compensate for state revenue losses after the implementation of GST, is set to expire…
Godfrey, ITC, VST Industries — Tobacco Stocks Fall On Fear Of Possible GST Hike On Cigarettes
Shares of Godfrey Phillips India Ltd. and VST Industries Ltd. took a hit during trade on Wednesday, as a proposal is under consideration to replace compensation cess with health and green cess, as per people in the know.Currently, cigarettes and other tobacco products have a 28% GST levy, among others. The total tax burden of the commodity stands at 53%. The compensation cess is set to expire on March 31, 2026.A Group of Ministers on compensatio…
Coverage Details
Bias Distribution
- 100% of the sources lean Right
To view factuality data please Upgrade to Premium
