FICCI CASCADE for status quo on GST rate on tobacco products to check smuggling

December 17, 2019 by adminficci News 0 comments

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.

https://timesofindia.indiatimes.com/business/india-business/ficci-cascade-for-status-quo-on-gst-rate-on-tobacco-products-to-check-smuggling/articleshow/72831166.cms