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The GST on cigarettes, tobacco, and related items may rise to a proposed 35% from the current 28%, targeting higher revenue from demerit goods.
Varun Beverages share price plunged as much as 5.18%, ITC stock price declined 3%, Godfrey Phillips India shares declined as much as 3.16%, while VST Industries stock fell 2.27% during Tuesday’s trading.
Read MoreEconomy News Today highlights on December 2, 2024: From key announcements to major events impacting the micro and macro economy of the country and the world, this platform provides you with all the latest updates on the economy.
Read MoreThe Group of Ministers on rate rationalisation has finalised its report, which will be presented to the GST Council, PTI reported. The GoM will likely propose a tax hike on cigarettes, tobacco, and aerated beverages, as per the report.
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Read MoreThe uptick in GST collections driven by festive demand had been anticipated by policymakers, who remain optimistic about sustained growth in rural consumption and an improvement in urban demand.
Read MoreTop News on Dec 1: From increase in GST collection to Andhra govt dissolving Waqf board to killing of 7 Maoists to Donald Trump picking loyalist Kash Patel as his new FBI director, here are today's top stories.
Read MoreEconomy News Today highlights on December 1, 2024: From key announcements to major events impacting the micro and macro economy of the country and the world, this platform provides you with all the latest updates on the economy.
Read MoreSummary
It has not yet been decided whether it will be part of the agenda of the GST Council’s next meeting scheduled in December
The petroleum and natural gas ministry has recommended the inclusion of natural gas in the goods and services tax (GST) framework to the finance ministry, an official aware of the development said on Thursday.
The deficit in the system came after two months on account of goods and services tax payments and forex outflows.
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