The GST Council on Monday stepped in to check the windfall being reaped by cigarette manufacturers and increased the cess by 48 paise to 79p per stick, although the impact on prices is now unclear.
The compensation cess on cigarettes consists of two components - an ad valorem tax of 5 per cent and a numerical amount on each category of filter and non-filter varieties.
The GST Council's decision has affected most tobacco stocks, including the stock of Modi Group firm Godfrey Phillips India which fell 5.01 percent or 61.50 points at 1166 level.
The GST Council will meet next in the first week of August to review the progress of the new tax regime's implementation, Jaitley said.
The GST Council had in May fixed 28 per cent as the top rate for cigarettes. The fixed cess varies depending on length and whether cigarettes are filter or non-filter.
The cess varied from Rs 2,126 to Rs 4,170 for cigarettes of different lengths. A statement issued after the GST Council meeting said the method of calibrating the GST compensation cess on cigarettes did not take into consideration the cascading of taxes that existed in the earlier regime, which has now disappeared, thus leading to a reduction in the tax burden on the item.
Over 65 mm but less than 70 mm: The price will increase by Rs 0.792 per cigarette. Announcing this Tamil Nadu Finance Minister D Jayakumar, who participated in the meeting through video-conferencing, said during the meeting the proposal to increase the levy of cess on cigarettes was discussed.
Jaitley said the total taxpayer base under the GST will easily exceed 80 lakh, the number originally registered under the previous indirect tax regime, which also had duplication because of registrations under Value Added Tax and excise.
There is also a slight chance of an afternoon or evening shower or thunderstorm as well, but the activity will be spotty. The coverage of storms will peak during the afternoon, and again they will wind back down in the evening.
You'll immediately become a citizen of the galaxy and experience all that entails, including dressing up in the proper attire. If you're really, really bad though, bounty hunters might hunt you throughout the park, like a new one named Harcos.
As tensions flared after the report, Secretary of State Rex Tillerson flew to the region to try to narrow the rift. The UAE has denied this, with the ambassador for the country, Yousef al-Otaiba, saying the reports were false .
Economic reformer? Shrewd master of nuclear brinksmanship? "Ninety percent of the economy of North Korea depends on China ". And the world has cause for concern with the latest test firing of an intercontinental ballistic missile (ICBM).
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Il listino è rimasto invariato e parte da un prezzo di entrata di 205 euro per il secondo anello blu e il secondo anello verde. L'attaccante iraniano è tra i primi obiettivi del mercato biancoceleste ma i russi sparano una valutazione ritenuta eccessiva.
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Ms Waters was seen by some in the party, including former leader Bob Brown, as a future leader of the party. In the case of Senator Waters, that would be former Australian Democrats Senator Andrew Bartlett.
The Red Sox lost Saturday's game 4-1 to the Yankees, but remain 3 1/2 games ahead of them in the American League East standings. The Yankees said Pineda will have surgery Tuesday to fix a torn ligament in his right elbow.
The team was optimistic Ball would be able to play in Monday's finale, but were also expected to proceed with caution. Asked whether his shoe choices are part of a master plan, he noted: "You could say that".
Dhawan to replace injured Vijay for Sri Lanka Test tour
After a magnificent series against England and Bangladesh, Vijay managed just 113 runs in three Tests at an average of 22.60. The ODI series will begin at the Dambulla International Stadium on August 20 followed by the second and third ODIs at Kandy.
Gas prices lower again in Las Vegas
In Florida, gas prices averaged $2.13 on Sunday, a half cent lower than last week and three 3 cents less than a year ago . DeHaan said a special meeting OPEC has scheduled for July 27 will be watched for any policy or production changes.