Friday, September 22, 2017
News

GST Council increases cess on cigarettes

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Monday, 2017 8:45:04 PM IST
 
In view of the reduction in tax incidence on cigarettes, the GST Council on Monday raised the compensation cess rates on the demerit good.

"In first 15 days of GST implementation, it was noted that the 28 per cent tax rate plus compensation cess on cigarettes when translated, the impact of cascading effect had not adequately factored in, resulting in windfall gain for the cigarette companies," Finance Minister Arun Jaitley said here after the council meet.

Now the tax rate on cigarette remains at 28 per cent, the ad valorem at 5 per cent with the numerical amount on each category of filtered and non-filtered cigarettes being raised to Rs 2,076 per 1,000 units, Rs 2,747 per 1,000 and Rs 3,668 per 1,000 of different categories of cigarettes.

For other cigarettes the ad valorem has been increased to 36 per cent plus Rs 4,170 per 1,000 units.

--IANS mm/ag/bg

( 159 Words)

2017-07-17-20:24:11 (IANS)

Watch News Videos

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
TRENDING TOPICS
 
 
 
CITY NEWS
MORE CITIES
 
MORE BUSINESS NEWS
US dollar mixed amid economic data...
itel 'SelfiePro S41' launched at Rs 6,99...
TRAI's IUC reduction is a body blow for ...
Odisha pollution board allows Vedanta to...
Will appoint receiver and auction assets...
Odisha cabinet okays handlooms, handicra...
More...
 
INDIA WORLD ASIA
10 absent J&K Govt employees suspended i...
Cong suggests Rane's resignation linked ...
Youth held for posting provocative messa...
Meghalaya gets its first Amrit Pharmacy...
Cong accuses Raghubar Govt of making a f...
Special CB-CID team rushes to Bihar to c...
More...    
 
 Top Stories
Domhnall Gleeson wants to work with... 
US dollar mixed amid economic data... 
'Keeping Up with the Kardashians' w... 
Trump, May meet on Iran, N.Korea is... 
France ready to skip 2018 Winter Ga... 
Cong suggests Rane's resignation li... 
10 absent J&K Govt employees suspen... 
Sushma Swaraj launches veiled attac...