Скачать или смотреть Tobacco, Pan Masala to Get Costlier as Govt Announces New Excise Duty from February 1

Tobacco, Pan Masala to Get Costlier as Govt Announces New Excise Duty from February 1

New Delhi, 01 Jan : The central government has officially announced February 1 as the date from which an additional excise duty will come into effect on tobacco products, along with a newly introduced cess on pan masala.

These fresh levies will be imposed in addition to the existing Goods and Services Tax (GST) and will replace the compensation cess currently charged on such sin goods. The move marks a significant shift in the taxation structure for tobacco-related products and pan masala.

Starting February 1, pan masala, cigarettes, tobacco, and similar products will be taxed at a GST rate of 40 percent, while biris will continue to attract an 18 percent GST. Apart from GST, pan masala will be subject to a Health and National Security Cess, whereas tobacco and its related products will face an added excise duty.

The legislative backing for these changes was provided in December, when Parliament approved two separate Bills authorising the imposition of the Health and National Security Cess on pan masala manufacturing and the additional excise duty on tobacco products. The decision is expected to have a direct impact on prices and consumption patterns across the country.

#TobaccoTax #PanMasalaCess #ExciseDuty #GSTUpdate #HealthCess #NationalSecurityCess #GovernmentNotification #SinGoodsTax #IndiaTaxReforms #BudgetUpdate