ITC, Varun Beverages drop on GST hike report

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.
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
GST on cigarettes, tobacco, aerated beverages likely to be hiked: Here’s what we know
The Group of Ministers on rate rationalisation has finalised its report, which will be presented to the GST Council, reported PTI on Monday. The GoM will likely propose a tax hike on cigarettes, tobacco,
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%.
Niva Bupa, Star Health shares jump up to 13% on likely GST reduction for health insurance premia
Health insurance stocks rallied on Tuesday, with shares rising as much as 13% on the BSE, following the Group of Ministers' ...
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GST Hike on Aerated Beverages Likely
According to the report, the GoM's report on tariff rationalisation was completed on Monday and would be given to the council ...
GST rates to be revised for 148 items? Special 35% rate proposed for tobacco, aerated water, say sources
The Group of Ministers (GoM) on Rate Rationalisation—a high-level panel that decides changes in the GST rate structure—is ...
Stocks impacted by proposed GST changes on demerit goods, insurance
The proposed hike in GST for demerit goods has impacted several stocks tied to these industries. Meanwhile, insurance stocks ...
Tobacco GST becomes top trending topic on Google search
The proposed hike in GST on aerated drinks, cigarettes, and tobacco to 35% has propelled “Tobacco GST” to one of the top ...
'Are They Out Of Their Minds?': Netizens React To 35% GST Proposal On Aerated Beverages & Tobacco
In addition, the GoM has also proposed a hike in the GST rates levied on various direct consumer goods, including handbags, ...
55th GST Council Meeting Ahead: Tobacco, Insurance, To Bottled Water, GST Rates Of 148 Items To Change?
Ahead of the meeting, the group of ministers (GoM) has reportedly proposed key changes in GST rates for a whopping 148 items.
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GST Council Considers Steep 35% Hike On Cigarettes, Tobacco Products
The GST Council, chaired by Union Finance Minister and comprising state finance ministers, is scheduled to discuss the GoM ...
Centre detects GST evasion worth Rs 824.14 crore by crypto exchanges
The Centre has detected goods and services tax (GST) evasion worth Rs 824.14 crore by crypto exchanges, such as Binance, ...