GST Reforms: Council Approves Highest Tax Of 40% On Tobacco And Sin Goods
Nirmala Sitharaman just dropped a bombshell on tobacco users after the 56th GST Council meeting in New Delhi. She announced a staggering 40% GST rate for sin and super-luxury goods, including paan masala, cigarettes, gutka, and other tobacco products like zarda and beedi. This move, aimed at curbing consumption and generating revenue, marks a significant shift from the previous 28% plus compensation cess, which will end once loans are repaid.
Aerated drinks with added sugar and caffeinated beverages are also now under the 40% bracket, making this a major shake-up for the tobacco and beverage industries. But the 40% GST isn’t just about tobacco; it’s part of a broader strategy to target unhealthy and luxury items, ensuring they bear a heavier tax burden.
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