The GoM report is predicted to be mentioned by the GST Council on December 21(Representational)
New Delhi:
Shares of ITC, Varun Beverages and Godfrey Phillips India ended decrease on Tuesday after the Group of Ministers on GST price rationalisation determined to hike tax on sin items like aerated drinks, cigarettes, tobacco and associated merchandise to 35 per cent from the current 28 per cent.
The inventory of ITC declined 1.02 per cent to settle at Rs 472.30 on the BSE. During the day, it went decrease by 3 per cent to Rs 462.80.
VST Industries’ inventory dipped 2.27 per cent to Rs 318.30 in intra day however recovered the misplaced floor and ended at Rs 327.90, up 0.68 per cent.
Shares of Varun Beverages dropped 1.86 per cent to settle at Rs 621 apiece after tumbling 5.18 per cent to Rs 600 through the day.
Godfrey Phillips India slipped 1.71 per cent to complete at Rs 5,659.50. Intra-day, it fell 3.16 per cent to Rs 5,575.50.
The Group of Ministers (GoM) report is predicted to be mentioned by the GST Council — chaired by Union Finance Minister and comprising her state counterparts — on December 21. A last choice on GST price adjustments might be taken by the council.
“The GoM has agreed to suggest a particular price of 35 per cent on tobacco and associated merchandise and aerated drinks. The four-tier tax slab of 5, 12, 18, and 28 per cent will proceed and a brand new price of 35 per cent is proposed by the GoM,” an official mentioned.
(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)