GST Council may raise tax rates on aerated drinks & tobacco products to 35%

Published By : Tuhina Sahoo | December 6, 2024 8:53 AM

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

New Delhi, Dec 6: India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products. A group of ministers has recommended raising the GST rate from 28% to 35% for these items. The final decision will be made during the GST Council meeting on December 21.

The main goal of this proposed tax hike is to increase government revenue and reduce the consumption of products that are harmful to health. If approved, consumers could see higher prices for aerated drinks and tobacco products.

This move is expected to impact the beverage and tobacco industries, which are closely watching the situation. A tax increase could affect sales and profitability for companies in these sectors.

For consumers, this means they may have to pay more for these products, while for the industry, it could lead to lower demand and changes in business strategies. The final decision by the GST Council will be crucial in determining the future price and availability of these products in the market.

The proposed tax increase reflects the government's efforts to raise revenue while also promoting healthier choices among consumers. The impact of this decision will be felt across various sectors, including the beverage, tobacco, and retail industries.

Prameya English Is Now On WhatsApp Join And Get Latest News Updates Delivered To You Via WhatsApp

You Might Also Like

More From Related News

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Reliance Retail acquires Kelvinator to boost its consumer durables market

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Big catch: Fishermen in Binika hunt 1-quintal rare Bodu Fish from Mahanadi, fetches Rs 3,00000 from Kolkata-based pharma!

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Jindal Foundation honoured with CSR TIMES Gold Award for promoting Sports

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Lulu Group Collaborates with Meghalaya for Agri-Exports

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

"Non-Veg Milk" Stalemate: How Cultural Beliefs Stalled the India-US Trade Deal

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

GAIL signs LNG SPA with Vitol Asia Pte. Ltd. for supply of 1 MMTPA LNG

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Used car sales in India set to surpass 6 million units this fiscal: Crisil Ratings

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Mexico's Plan to Cut U.S. Milk Powder Imports Could Reshape Global Trade: Can it Benefit India?

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

MCL holds strategic meet to strengthen coal quality

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Regulatory failure never led to Jane Street’s illegal acts in India: Madhabi Buch

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Jio adds highest 1.54 lakh new mobile subscribers in Odisha in May: TRAI data

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

World's Most Expensive Handbag: Jane Birkin's Hermès Bag Fetches $10 Million

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

HUL Makes History: Priya Nair Named First Woman CEO in Company's 92-Year Journey

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Union Minister Rajiv Ranjan Singh unveils 17 new fisheries clusters at ICAR-CIFA, Bhubaneswar

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Odisha honoured by Agriculture Today for best agricultural practices

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Over 57% of Odisha Yatri users are women

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

IBCS Organises FDP on India's Growth and Economic Challenges

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Odisha tops in private investments, says Industries Minister Sampad Swain

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Google Launches AI Mode in Search Across India, English Only for Now

India's Goods and Services Tax (GST) Council is considering a proposal to increase tax rates on certain 'sin goods,' including aerated drinks and tobacco products.

Google launches AI mode feature for all users in India

WhatsApp Channel

Latest News

Odisha wins top honours at IITM Chennai for In...

3 students flee hostel to escape torture by se...

President Droupadi Murmu witnesses Odia film o...

Know Petrol-diesel price in Odisha today

Odisha Energy transition: Odisha leads the way...

Odisha: 20-year girl dies in self-immolation

Orissa High Court extends interim protection o...

Copyright © 2024 - Summa Real Media Private Limited. All Rights Reserved.