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Will Luxury & Sin Goods See A Tax Hike In December, 35% GST On Tobacco, Aerated Drinks?

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
The Group of Ministers (GoM) on Rate Rationalisation, has proposed a "different tax treatment" for sin goods such as cigarettes, tobacco, and pan masala, according to finance ministry sources. Sources Say GoM proposes a hike in GST on aerated drinks,
The article from Business Today discusses the potential tax hikes on luxury and sin goods in India, which could be implemented in December. The government is considering increasing the GST on items like tobacco and aerated drinks to 35%. This move is part of a broader strategy to curb consumption of these goods due to health concerns and to boost revenue. The article highlights the ongoing debate about the balance between revenue generation and the impact on consumers and industries. It also mentions that such tax increases could lead to higher prices for consumers, potentially affecting demand, and discusses the implications for various sectors, including hospitality and retail, which might see a shift in consumer behavior.

Read the Full Business Today Article at:
[ https://www.businesstoday.in/bt-tv/market-today/video/will-luxury-sin-goods-see-a-tax-hike-in-december-35-gst-on-tobacco-aerated-drinks-456016-2024-12-03 ]