Cigarette Volumes May Drop 6-8% Due Tax Hike: Crisil
India’s cigarette industry may see a 6–8 per cent volume decline next fiscal after new excise duties and higher GST take effect from 1 February
India’s cigarette industry may see a 6–8 per cent volume decline next fiscal after new excise duties and higher GST take effect from 1 February
While traditional retailers call for a level playing field, industry experts caution that such a move could raise costs, hinder innovation and dampen consumer demand
The association has urged the Goods and Service (GST) Council to consider the broader economic implications and explore more balanced approaches to achieve higher collections