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.
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)