Tobacco Industry

16 member countries urge to include vapes in EU's tobacco tax law

Initiative, led by Netherlands, has support of Croatia, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Latvia, Slovakia, Spain, Belgium, Bulgaria, Ireland, Slovenia and Portugal

DPIIT working on proposal to further tighten FDI rules in tobacco sector

The Commerce and Industry Ministry is working on a proposal to further tighten the foreign direct investment norms in the tobacco sector to check promotional activities and curb smuggling in the segment as firms are trying to circumvent norms, an official said. At present, foreign direct investment (FDI) is prohibited in the manufacturing of cigars, cheroots, cigarillos and cigarettes of tobacco or its substitutes. However, it is permitted in technology collaboration in any form, including licensing for franchise, trademark, brand name and management contracts in the tobacco sector. "FDI in tobacco is prohibited, and there is a need to control the sectors' promotional activities also. By doing promotion of those products, some companies try to create a system where smuggling increases," the official said. The Department for Promotion of Industry and Internal Trade (DPIIT) has circulated a draft note seeking the views of different ministries on the issue. The official added that ..

Govt allows sale of excess tobacco produced by registered growers in Andhra

The government on Wednesday said it has allowed sale of excess FCV tobacco produced by registered growers on auction platforms in Andhra Pradesh for the crop season 2023-24. The commerce ministry has also waived the additional service charges considering the crop damage in an area of 15,028.09 hectares across all soil regions in Andhra Pradesh. It said that the decision will benefit farmers of the state to recover the loss due to cyclonic rains in view of zero penalty on sale of the excess Flue Cured Virginia (FCV)) tobacco produced by registered growers on the auction platforms in Andhra Pradesh for 2023-24 crop season. This consideration will handhold the farmers to overcome their financial plight inflicted due to natural calamity and would greatly help growers continue their livelihood, it added. "Union Minister of Commerce and Industry Piyush Goyal has approved the sale of the excess Flue Cured Virginia (FCV) tobacco produced by registered growers on the auction platforms in ..

ITC hits Rs 500: Jefferies says 'Buy' on no tobacco tax rejig in Budget

ITC share price target: ITC stock hits Rs 500-mark for the first time. Jefferies upgrades stock to 'Buy', Macquarie initiates with 'Outperform'

Tobacco prices to rise in Andhra after crop failure in Brazil, Indonesia

Prices range between Rs 280 and Rs 290 per kg and are predicted to surpass Rs 300 per kg in Andhra Pradesh market

GST authorities: Penalty for Tobacco cos not registering packing machines

Manufacturers of pan masala, gutka and similar tobacco products will have to pay a penalty of up to Rs 1 lakh, if they fail to register their packing machinery with the GST authorities with effect from April 1. The move is intended to curb revenue leakage in the tobacco manufacturing sector. The Finance Bill, 2024, introduced amendments to the Central GST Act, where a penalty of Rs 1 lakh would be levied for every machine not registered. Further, such non-compliant machinery would face the risk of seizure and confiscation in certain cases. Based on the recommendation of the GST Council, the tax authorities had last year notified a special procedure for registration of machines by tobacco manufacturers. The details of existing packing machines, newly-installed machines, along with the packing capacity of these machines, have to be furnished in Form GST SRM-I. However, there was no penalty notified for the same. Revenue Secretary Sanjay Malhotra said the GST Council in an earlier .

ITC Ltd director David Robert Simpson resigns, effective January 30

ITC Ltd on Tuesday said its Non-Executive Director David Robert Simpson has resigned due to personal reasons. His resignation will be effective from January 30, the Kolkata-headquartered company said in a regulatory filing. Simpson was on ITC board as a representative of Tobacco Manufacturers (India) Ltd, a subsidiary of British American Tobacco plc. "David Robert Simpson, Non-Executive Director, has tendered his resignation from the Board of Directors of the company with effect from 30th January, 2024, due to personal reasons," ITC said. He was appointed on ITC board as a Non-Executive Director with effect from January 27, 2017. As of September 2023, Tobacco Manufacturers (India) held 23.88 per cent stake in ITC.

British American Tobacco writes down US cigarette brands, stocks fall

BAT's move comes as ever-stricter regulation and growing awareness of health risks squeeze tobacco companies' traditional business, driving declines in cigarette volumes in some markets

DS Group considering investment of Rs 200 cr to expand luxury portfolio

The DS group also has brands like Swiss luxury chocolate Laderach, childrenswear store Les Petis, and premium grocery and retail store Le Marche

Not tobacco ban, new therapies key to combating lung cancer: Nobel laureate

The key to combating lung cancer is the development of novel immunotherapies and diagnostic techniques and not a complete ban on tobacco that is impossible to enforce, says American Nobel laureate Harold Varmus. Varmus won the 1989 Nobel Prize in Medicine - along with American immunologist Michael Bishop -- for the discovery of gene mutations that can lead to the transformation of a normal cell into a tumour cell and result in cancer. Dwelling at length on lung cancer, the leading cause of death due to cancer globally as well as in India, Varmus said, "Trying to prohibit tobacco or to ban tobacco entirely is a mistake because we know that you can't enforce complete prohibition. That is the kind of thing that leads to various forms of crime and it doesn't work." "I don't think bans work very well. But I do think that not just in India and every country, including the US, where we still have 18 per cent of our population smoking, we have people using nicotine vapes instead of ...

Rise in cigarette taxes, first EU-wide vaping levy on the cards

The changes to legislation, part of a push by Brussels to cut smoking rates, will increase the EU's minimum excise duty on cigarettes from 1.80 euros to 3.60 euros per pack of 20

Tobacco player VST logs 22% sales growth in quarter ended Sept 30

Tobacco and cigarette manufacturer VST Industries registered a 22 per cent growth in sales and logged 15.4 per cent growth in net profit in the quarter ended September 30, 2022

WHO raises alarm on tobacco industry environmental impact, human health

WHO revealed new information on the extent to which tobacco damages both the environment and human health, calling for steps to make the industry more accountable for the destruction it is causing

Indian Tobacco Association urges govt to extend RoDTEP benefits to tobacco

Indian Tobacco Association on Thursday said it has urged the government to include tobacco under the tax rebate scheme RoDTEP with an aim to encourage exports from the sector

Avg annual revenue collection from tobacco products at Rs 53,750 cr: FM

Finance Minister Nirmala Sitharaman on Tuesday told the Rajya Sabha that the average annual revenue collection, including GST and excise duty, from tobacco products, stands at about Rs 53,750 crore. In reply to a question, the minister also said the GST rates, including compensation cess rates, on goods are fixed on the basis of the recommendations of the GST Council. Answering supplementary questions, she said many non-governmental organisations (NGOs) and consumer education forums have suggested to increase levies on tobacco products considering the health impact. "In the GST Council, we have formed a Group of Ministers (GoM). It has been given the terms of reference to see if on the capacity of a producing unit, where evasion is high, we can consider looking at an increase in the price. "Such items like tobacco have also been put into that list... We will wait for the GoM to come back with its recommendations," she said. Prasanna Acharya (Biju Janata Dal) had asked her if the .

Farmers' body asks PM Modi to withdraw bill on cigarette, tobacco

Farmers' body asked PM Modi to recall the proposed bill to amend the law regarding cigarettes and other tobacco products

Traders ask PM to drop 'harsh' norms on sale, promotion of tobacco products

New proposals like booking of retailers selling loose cigarettes and 7 years of imprisonment, are unacceptable, traders argued

Cigarette makers fume as govt proposes changes to anti-smoking law

India has over the years introduced tobacco controls and launched campaigns to deter its use, but enforcement of the law has been a challenge

World's largest cigar producer enjoys boom amid Covid-19 lockdowns

Already the world's largest cigar producer, Dominican Republic is on track to export a record $1 billion worth of tobacco products this year

A missed opportunity: ITC could build India's digital, agri-business model

A cash-strapped New Delhi, which is delaying fiscal support to an economy expected to lose a 10th of its real output this year to Covid-19, also needs to rethink its stance