The high taxation on cigarettes since 2012-13 has reduced the country’s legal cigarette industry from 110 billion sticks in 2011-12 to 95 billion sticks in 2014-15 and is expected to drop further in the current year, as per a note by cigarette and tobacco products industry body, The Tobacco Institute of India.
Over the last three and half years, excise duty and state level VAT on cigarettes at a per unit level has gone up cumulatively by 98% and 124% respectively which is exerting sev.
[“Source-indiatimes”]
