FICCI CASCADE for status quo on GST rate on tobacco products to check smuggling
Ahead of crucial GST Council meet on Wednesday, industry body FICCI’s arm made a case for maintaining GST rate on tobacco products at present level saying any increase would lead to rise in smuggling and will adversely impact domestic industry.
Currently, GST rate on these products are 28 per cent while cess varies between 61 to 204 per cent.
FICCI CASCADE (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy) said various agencies seized illicit cigarette worth about Rs 18 crore so far this year. It said that there has been spurt in smuggling due to increase in tax in the past few years. The illegal cigarette trade has more than doubled from 12.5 billion sticks in 2005 to 26.5 billion sticks in 2018.
Related Posts
Coach Wins $257 Million Court Ruling against Counterfeiters
Coach Inc. (COH), the largest U.S. luxury handbag maker, said it won a $257...
Move can help curb the menace of counterfeiting: FICCI seminar
Consumer insistence on being issued a receipt for the purchase of goods made as a...
‘Tobacco, mobiles and booze are fast-moving duplicates’
Tobacco, mobile phones and alcoholic beverages are the three products, in that...
Chinese anti-counterfeit company lists in Australia
Chinese covert tracer company YPB Group will shortly list on the Australian...