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CIGARETTE SMUGGLING CONCERNS
Cigarette prices jump as new excise regime kicks in, stoking smuggling fearsCigarette prices have significantly increased following a new excise duty. This tax hike, the first in seven years, aims to align India's t...- Tax hike raises risk of smuggling of tobacco products and revenue loss for govt: ExpertsExperts warn that a significant tax hike on cigarettes, effective February 1, could fuel illicit trade and lead to substantial tax revenue ...
- ITC, Godfrey Phillips shares slide up to 5% amid sharp excise duty hike on cigarettesCigarette makers ITC and Godfrey Phillips India saw their shares plummet up to 5% on Friday following a steep hike in excise duties announc...
- Budget 2025: Will ITC shares Budget day winning streak survive tax hike uncertainty?ITC shares have historically performed well on Budget days, but traders are cautious this year due to potential excise duty hikes on cigare...
- Budget will keep ITC investors on tenterhooks, Nuvama says sharp tax hike unlikelyAs India prepares for the Union Budget, ITC investors watch for potential cigarette tax policies. Brokerage Nuvama predicts a modest tax hi...
- Proposal to impose 35% GST on 'sin goods' not a good idea: SJMThe Swadeshi Jagran Manch, along with other trade bodies, criticizes the proposed 35% GST on "sin goods" like tobacco and aerated beverages...
- DRI seizes contrabands worth Rs 3,500 cr in FY 24; narcotic drugs, gold major contributorsRevenue Intelligence officers seized contrabands worth Rs 3,500 crore in FY 2023-24, with narcotic drugs and gold seizures constituting a m...
- Budget Expectations: Retailers seek tax cuts to fight cheap smuggled items"The high taxes are creating a huge demand for smuggled and counterfeit products across the country and are forcing millions of small and i...
- Is hope turning to despair in case of ITC?According to Bloomberg data, 31 of the 39 (i.e. 80%) analysts tracking the stock of India's biggest diversified cigarette company have been...
- Spike in cigarette smuggling during COVID-19 lockdown: FICCI CASCADEFICCI CASCADE (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy), said the seizure of foreign brand cigaret...
- DIPP calls meeting of stakeholders on FDI in tobacco sectorCurrently, FDI is prohibited in manufacturing of cigars, cigarettes and tobacco substitutes. However, it is permitted in technology collabo...
- Hopes of leniency on Sin tax in budget send ITC stock higherAnalysts believe that tax increases this year may not be as steep as they previously were.
- Tobacco rules must not discriminate against cigarettes: ITCThe Kolkata-based firm said taxes on cigarettes have "increased by more than 200 per cent in last few years" which has resulted in smugglin...
- Cigarette prices set to go up by 9% on higher cessThis would be the sixth straight year of tax increase and price hike for the cigarette industry.
- Cigarette prices set to go up by 9% after higher cessThe Tobacco Institute of India said this will put severe pressure on the legal cigarette industry by leading to increased smuggling and ill...
- Budget 2016: Excise duty hike on tobacco products will have negative impact on cigarette companiesITC, the country’s largest cigarettes seller, did not respond to the mail seeking comment on the latest excise hike in the national budget.
- How increased excise duty on cigarettes has made the Indian market vulnerable to Chinese brandsIn a country where about 102 billion cigarette sticks were smoked in FY15, illegal brands and cheap imports aren’t new, although they’re sp...
- Australian ruling on cigarette packages burns ITC, FMCG stocksShares of tobacco-to-hospitality major ITC fell 3.6% to 258 on Thursday after the Australian Supreme Court on Wednesday banned logos on cig...
- Cigarette taxes are discriminatory: Kurush GrantDiscriminatory taxes on cigarettes have not helped reduce the tobacco consumption in the country, says ITC divisional chief executive (toba...
- FDI in tobacco will increase contraband trade: TIIExpressing concern over the possibility of FDI in the Indian tobacco sector, Tobacco Institute of India (TII) has said such a move will not...
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