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Indian Government Increase Tax on Cigarettes From 18 July @ArunJaitley

Indian Central Government raises tax on cigarettes

The new tax rate is part of a new Goods and Services Tax (GST) announce on July 1 in India’s largest tax reform in 70 years since independence.

Indian Government Increase Tax on Cigarettes July 18th @ArunJaitley

Indian Central government increases the total tax on cigarettes, which has resulted in an increase of 792 rupees ($ 12.31) per thousand cigarettes, adding about 50 billion rupees ($ 777 million) Of revenue for the government, Said Finance Minister Arun Jaitley.

Indian Government Increase Tax on Cigarettes July 18th @ArunJaitley
Indian Government Increase Tax on Cigarettes July 18th @ArunJaitley

The higher rate will come into effect on July 18, Jaitley told reporters in New Delhi on Monday.

The new tax rate is part of a new goods and services tax (GST) which was announce on July 1 in the country’s largest tax reform since 70 years since independence.

After the GST, cigarettes became cheaper because the total tax burden had decreased by about 6-7%. The new tax is increase after a shock of anti-smoking groups and several health groups.

($1 = 64.3400 Indian rupees)

Source: in.reuters.com

Read MoreGST Means Goods for Simple Tax say PM Narendra Modi on July 1st 2017

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