ITC, Varun Beverages drop on GST hike report

Shares Of ITC, Varun Beverages Slip On Tuesday After Reports State GST Hike Likely On Tobacco, Aerated Drinks
The cigarette maker, ITC, saw its shares decline 3 per cent in the intra-day trade today, while aerated drinks maker, Varun Beverages, clocked a 5 per cent fall in the market
Indian shares off to muted start; ITC, Varun Beverages drop on GST hike report
(Reuters) -Indian shares were little changed at the open on Tuesday as consumer stocks fell after a report of a likely tax hike on cigarettes, tobacco and aerated drinks, offsetting broad-based gains.
ITC & Godfrey Phillips Shares Tumble As Government Mulls A 35% 'Special' GST On Tobacco Products
The Union government and its Group of Ministers (GoM) has created ripples in the intraday trade on Tuesday, December 3. This is because, according to reports, the panel has proposed a 35 per cent 'special rate'/GST on Tobacco and Aerated Beverages. In addition, there are other changes that have been proposed by the panel.
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,
ITC shares dip 1.5%on potential GST rate increase on tobacco products
Shares of ITC Ltd were trading lower by about 1.5 per cent at 11:03 am on the BSE on Tuesday. A businessline report had earlier said that the Group of Ministers (GoM) within the GST Council is likely to recommend a rate hike on tobacco and tobacco-related products from 25 per cent to 35 per cent
Why ITC, Varun Beverages, Godfrey Phillips shares dropped today
Shares of ITC fell 2.94 per cent to hit a low of Rs 463.10. Godfrey Phillips India declined 2.45 per cent to Rs 5,616.85. VST Industries was down 0.12 per cent at Rs 325.30. The PepsiCo bottler Varun Beverages slipped 3 per cent to Rs 613.
ITC, VST Industries, Varun Beverages Shares Drop on GST Hike
Shares of ITC, VST Industries, and Varun Beverages declined after a GoM proposed a 35% GST on sin goods including aerated beverages, cigarettes, and tobacco products.
Varun Beverages shares slip over 5% as GST on aerated beverages may be hiked to 35%
Shares of Varun Beverages fell by 5.2% as the Group of Ministers proposed raising the GST rate on aerated drinks to 35%. This hike in taxes affects Varun Beverages significantly since most of its revenue comes from India’s aerated beverages segment.
ITC, Varun Beverages Shares Fall Up To 5% On Possible Hike In GST Rate To 35%
Shares of ITC Ltd., Varun Beverages Ltd., VST Industries Ltd., and other companies linked to cigarettes and beverages dropped by up to 5%
35% GST — Shares of ITC, Varun Beverages fall up to 5% after CNBC-TV18 newsbreak
Cigarettes is a significant contributor to ITC's overall topline and is one of the major businesses for the company aside of FMCG & other, Agri, Paper and Hotels.
Varun Beverages shares fall 5% on possible hike in GST rate to 35%
The Group of Ministers on GST rate rationalisation has recommended to raise tax on aerated beverages to 35% from the current 28%.
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