Comments
Cigarette stocks witnessed heavy selling pressure today, falling as much as six per cent, after a GST panel suggested 40 per cent tax rate for demerit goods like pan masala and tobacco.
Shares of ITC tumbled 6.38 per cent to Rs 314.50 on the NSE, emerging as the worst performer among the blue-chip Sensex stocks.
Similar selling was seen in Godfrey Phillips which plunged 5.8 per cent and VST Industries, that dipped 2.5 per cent.
A Finance Ministry panel headed by CEA Arvind Subramanian has suggested a ‘standard rate’ of 17—18 per cent on bulk of the goods and services for the entire country.
The government plans to roll out Goods and Services Tax (GST) from April 1.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.