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    dailyadda

    Tobacco stocks tumble! New GST rates for sin goods weigh down shares; ITC falls 8%, Godfrey down Rs 400

    12 hours ago

    Tobacco stocks experienced a sharp decline as the finance ministry formalized February 1st as the date for imposing additional excise duty on tobacco products and a health cess on pan masala. This move, replacing the existing GST compensation cess, will necessitate price increases for major cigarette manufacturers like ITC and Godfrey Phillips India.
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