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Experts Call For Higher 'Sin Tax' On Tobacco Ahead Of GST Council Meet
Ahead of a crucial GST Council meeting on tax rationalisation health and economic experts have called for a higher 'Sin Tax' on tobacco and similar harmful products to curb their consumption and bolster public health and the economy.
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Stocks Of ITC, Varun Beverages, Godfrey Phillips Decline Amid GST Hike Report
Shares of ITC, Varun Beverages and Godfrey Phillips India ended lower on Tuesday after the Group of Ministers on GST rate rationalisation decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products.
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GST On Cigarettes, Tobacco, Aerated Beverages May Be Hiked To 35%
The GoM on GST rate rationalisation on Monday decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products to 35 per cent from the present 28 per cent, an official said.
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Cigarette Prices Remain Unchanged After No Tobacco Tax Hike In Budget 2024
Union Budget 2024: The price of cigarettes will remain unchanged after the government announced no hike in the existing tax rates on tobacco products in the 2024 Union Budget.
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Diamond Watch And Supercars: Tobacco Baron's Lavish Lifestyle Under Probe
After establishing itself as a key player in the tobacco industry, the Banshidhar Company has come under the radar of Income Tax authorities who are working round the clock to unravel the company's web of deception.
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Rolls Royce, Lamborghini, Crores Of Cash Seized From Tobacco Baron's Home
The Income Tax department executed a series of raids on Banshidhar Tobacco Company, unearthing a complex web of financial manipulations that extend across various states and even overseas.
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Rs 58,521 Crore In Taxes Lost Due To Illicit Trade: Report
The exchequer is estimated to have lost Rs 58,521 crore in taxes in 2019-20 due to illicit trade in goods in 5 key industries, including FMCG, mobile phone, tobacco products and alcohol, a Ficci report said on Thursday.
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Law Enforcement Body Recovers Rs 74.86 Crore From Tobacco Manufacturer For GST Evasion
Unmanufactured tobacco attracts the highest rate of the Goods and Services Tax, which is almost equivalent to the value of the goods and there is scope for large-scale evasion in the sector
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Rs 335 Crore Black Money Found After Raids On Pune Tobacco Group
The Income Tax Department has detected about Rs 335 crore undisclosed income after it raided a Pune-based business group engaged in packaging and sale of tobacco products and related items, the Central Board of Direct Taxes said on Monday.
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GST Officials Detect Rs 830 Crore Tax Evasion By Delhi-Based Tobacco Factory
The GST department has unearthed Rs 831 crore tax evasion by an unregistered gutkha manufacturing unit in the national capital.
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Government To Extend Surcharge On Luxury Items, Tobacco
The surcharge on luxury goods, which varies from 12 per cent to 200 per cent, is part of the national goods and services tax (GST) introduced in 2017, and was due to expire in 2022.
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Pakistan Cabinet Approves Flat Tax On Cigarettes, Soft Drinks
Pakistan's cabinet has approved a flat tax on all cigarette packets and soft drinks to try to plug a gaping budget deficit and discourage tobacco consumption, a document seen by Reuters said.
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Public Health Groups For Hike In Cess On Tobacco Products
The overall tax rate on all tobacco products in India is still very low compared to other middle-income countries, including those in South Asia.
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No Composition Scheme For Ice Cream, Tobacco Product Makers
Apart from the above exclusions, traders, manufacturers and owners of restaurants who have turnover below Rs 75 lakh will have to pay one per cent, two per cent and five per cent tax, respectively, if they opt for the Composition Scheme under the GST.
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Revenue Department Removes Additional Excise Duty On Cigarettes, Tobacco
Under the GST, a cess is levied on demerit and luxury goods over and above the peak GST rate of 28 per cent.
-
Experts Call For Higher 'Sin Tax' On Tobacco Ahead Of GST Council Meet
Ahead of a crucial GST Council meeting on tax rationalisation health and economic experts have called for a higher 'Sin Tax' on tobacco and similar harmful products to curb their consumption and bolster public health and the economy.
-
Stocks Of ITC, Varun Beverages, Godfrey Phillips Decline Amid GST Hike Report
Shares of ITC, Varun Beverages and Godfrey Phillips India ended lower on Tuesday after the Group of Ministers on GST rate rationalisation decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products.
-
GST On Cigarettes, Tobacco, Aerated Beverages May Be Hiked To 35%
The GoM on GST rate rationalisation on Monday decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products to 35 per cent from the present 28 per cent, an official said.
-
Cigarette Prices Remain Unchanged After No Tobacco Tax Hike In Budget 2024
Union Budget 2024: The price of cigarettes will remain unchanged after the government announced no hike in the existing tax rates on tobacco products in the 2024 Union Budget.
-
Diamond Watch And Supercars: Tobacco Baron's Lavish Lifestyle Under Probe
After establishing itself as a key player in the tobacco industry, the Banshidhar Company has come under the radar of Income Tax authorities who are working round the clock to unravel the company's web of deception.
-
Rolls Royce, Lamborghini, Crores Of Cash Seized From Tobacco Baron's Home
The Income Tax department executed a series of raids on Banshidhar Tobacco Company, unearthing a complex web of financial manipulations that extend across various states and even overseas.
-
Rs 58,521 Crore In Taxes Lost Due To Illicit Trade: Report
The exchequer is estimated to have lost Rs 58,521 crore in taxes in 2019-20 due to illicit trade in goods in 5 key industries, including FMCG, mobile phone, tobacco products and alcohol, a Ficci report said on Thursday.
-
Law Enforcement Body Recovers Rs 74.86 Crore From Tobacco Manufacturer For GST Evasion
Unmanufactured tobacco attracts the highest rate of the Goods and Services Tax, which is almost equivalent to the value of the goods and there is scope for large-scale evasion in the sector
-
Rs 335 Crore Black Money Found After Raids On Pune Tobacco Group
The Income Tax Department has detected about Rs 335 crore undisclosed income after it raided a Pune-based business group engaged in packaging and sale of tobacco products and related items, the Central Board of Direct Taxes said on Monday.
-
GST Officials Detect Rs 830 Crore Tax Evasion By Delhi-Based Tobacco Factory
The GST department has unearthed Rs 831 crore tax evasion by an unregistered gutkha manufacturing unit in the national capital.
-
Government To Extend Surcharge On Luxury Items, Tobacco
The surcharge on luxury goods, which varies from 12 per cent to 200 per cent, is part of the national goods and services tax (GST) introduced in 2017, and was due to expire in 2022.
-
Pakistan Cabinet Approves Flat Tax On Cigarettes, Soft Drinks
Pakistan's cabinet has approved a flat tax on all cigarette packets and soft drinks to try to plug a gaping budget deficit and discourage tobacco consumption, a document seen by Reuters said.
-
Public Health Groups For Hike In Cess On Tobacco Products
The overall tax rate on all tobacco products in India is still very low compared to other middle-income countries, including those in South Asia.
-
No Composition Scheme For Ice Cream, Tobacco Product Makers
Apart from the above exclusions, traders, manufacturers and owners of restaurants who have turnover below Rs 75 lakh will have to pay one per cent, two per cent and five per cent tax, respectively, if they opt for the Composition Scheme under the GST.
-
Revenue Department Removes Additional Excise Duty On Cigarettes, Tobacco
Under the GST, a cess is levied on demerit and luxury goods over and above the peak GST rate of 28 per cent.
