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GST Council hikes cess on cigarettes

Swinging into action on its own, the Goods and Services Tax (GST) Council on Monday increased the cess on cigarettes to correct a duty anomaly that was yielding windfall profits to tobacco companies Cigarette Tobacco For Sale. The government, however Newport Cigarettes Website, expects no change in prices despite the higher cess. While retaining the ad valorem compensation cess of 5 per cent on most filter (up to 75 mm) and non-filter cigarettes (up to 70 mm) Cheapest Cigarettes, the GST Council hiked the numerical cess by per 1,000 sticks. For other cigarettes, the ad valorem cess was hiked by 31 per cent. (See table) the first 15 days of GST it was noted that the rate fixed for cigarettes, when translated as a cost of the cigarette, indicated the cascading effect had not been factored in. It was leading to windfall profits for cigarette companies, said Finance Minister Arun Jaitley, who chairs the Council. Since tobacco companies cannot lower the rate of cigarettes, this profit would have been transferred to their balance sheets, Jaitley said, adding that this was not the intent of the Council. The decision, which will be effective from midnight of Monday, will raise an additional crore of revenue to the government. Vanaja N Sarna, Chairperson, Central Board of Excise and Customs, ruled out any hike in retail prices of cigarettes. was just a corrective measure, she said. This was the 19th meeting of the GST Council but the first since the rollout of the new levy Buying Cigarettes Online. The Council had last met on June 30 and had originally scheduled its next meeting for August 5. Taxpayer baseJaitley said the meeting was specially called to correct this particular duty anomaly. Expressing satisfaction over the rollout of GST from July 1, he said that high registrations have begun to indicate an increase in the tax payer base Marlboro Lights Carton. While 70 lakh existing taxpayers have already migrated to GST, another 5 lakh new application have been registered and 2.5 lakh applications are pending for registration.
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