Committee Against Smuggling and Counterfeiting Activities Destroying the Economy

FICCI CASCADE for status quo on GST rate on tobacco products to check smuggling

December 17, 2019 by adminficci News 0 comments

Ahead of crucial GST Council meet on Wednesday, industry body FICCI’s arm made a case for maintaining GST rate on tobacco products at present level saying any increase would lead to rise in smuggling and will adversely impact domestic industry.

Currently, GST rate on these products are 28 per cent while cess varies between 61 to 204 per cent.

FICCI CASCADE (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy) said various agencies seized illicit cigarette worth about Rs 18 crore so far this year. It said that there has been spurt in smuggling due to increase in tax in the past few years. The illegal cigarette trade has more than doubled from 12.5 billion sticks in 2005 to 26.5 billion sticks in 2018.

https://timesofindia.indiatimes.com/business/india-business/ficci-cascade-for-status-quo-on-gst-rate-on-tobacco-products-to-check-smuggling/articleshow/72831166.cms

Prev
Next

Related Posts

‘Counterfeit: Don’t buy into organized crime’ – UNODC launches new outreach campaign on $250 billion a year counterfeit business
January 14, 2014

A new global campaign has been launched by UNODC to raise awareness among...

Fakes, Phonies & Frauds
July 18, 2015

As the world has grown smaller, more and more foreign-made goods are hitting our...

FICCI CASCADE lauds DRI for a major haul of smuggled cigarettes
June 15, 2020

New Delhi, 15 June 2020: FICCI's Committee Against Smuggling and Counterfeiting...

Florida State Says Skim Milk is ‘Imitation’ Milk
August 24, 2015

According to Florida, skim milk is fake. That is the official opinion of the...