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The move is designed to ensure people pay all relevant tax on buying and selling crypto.
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News and Media
ITC shares fell sharply on Thursday, erasing over Rs 50,000 crore in market value after a steep new cigarette tax spooked investors. The excise hikeon top of GSTmay force price increases of 15% or more, raising risks of volume loss and a shift toward illicit trade, analysts warned.
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News and Media
Jefferies warned that the sharp hike in cigarette excise duty is clearly negative for ITC in the near term, likely hurting volumes and earnings. The brokerage called the move a major negative surprise for the legal cigarette industry, estimating over a 20% rise in effective tax incidence, and said it increases policy uncertainty despite its continued positive stance on ITC.
Category:
News and Media
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