New Delhi, Feb 1 (IANS) The Goods and Services Tax (GST) collections reached Rs 1,93,384 crore in the month of January, up 6.2 per cent from the same month last year, official data showed on Sunday.Gross GST collections were Rs 1,82,094 crore in January. On a year-to-date basis (April–January), gross collections jumped to Rs 18,43,423 crore, marking a strong 8.3 per cent growth (on-year), the data showed.Moreover, the net GST revenue for January stood at Rs 1,70,719 crore, up 7.6 per cent from…
Latest Tobacco Products News & Updates
New Delhi, Jan 31 (IANS) From February 1, the government is bringing a new tax structure for cigarettes, tobacco products and pan masala, aiming to tighten regulation and keep tax levels high on these so-called ‘sin goods’.An additional excise duty will now be charged on cigarettes and tobacco products, along with a new health and national security cess on pan masala.These new levies will replace the earlier system under which these products were taxed at 28 per cent GST along with a compens…