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.
ITC, Godfrey Phillips, Varun Beverages shares slip on report of likely GST hike on cigarettes, tobacco, aerated drinks
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.
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%.
Have high hopes of GST cut on health, life insurance? Here's why a drastic fall is unlikely to benefit policyholders
There has been growing clamour for removing or lowering the current GST rate of 18% on life and health insurance policies.
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 ...
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 ...
GST on cigarettes, tobacco, aerated beverages may be hiked to 35%; GST Council decision on Dec 21
The GoM on GST rate rationalisation on Monday (December 2, 2024) decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products to 35% from the present 28%, an ...
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 ...
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 ...
'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, ...
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, ...
Top GST panel recommends 35% tax rate for cigarettes, tobacco: Reports
The council will now decide whether there is further scope for rate rationalisation and may decide to retain the GoM so that ...