Tobacco Products

Pan masala makers to pay fine from Oct if machines unregistered with taxmen

The government has notified October 1 as the date for implementation of the penalty provision for manufacturers of pan masala and similar tobacco products, if they fail to register their packing machinery with GST authorities. The GST Network had earlier in May and June notified two forms GST SRM-I and II for registering machines used by such manufacturers and to report inputs procured and corresponding outputs with tax authorities. The Central Board of Indirect Taxes and Customs (CBIC) on August 6 notified October 1, 2024, as the date for levy of up to Rs 1 lakh penalty for failure to register their packing machines with GST authorities. In January, the Central Board of Indirect Taxes and Customs (CBIC) had announced the introduction of a new registration and monthly return filing procedure to improve GST compliance for manufacturers of pan masala and tobacco products effective April 1. The date was later extended till May 15. The move to overhaul the registration, record-keeping

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 .

Smoking killing 1.3 million in 7 countries including India annually: Lancet

Over 1.3 million lives are lost every year to cancers caused by smoking tobacco across seven countries, including India, according to a study published in The Lancet's eClinicalMedicine journal. Researchers found that together, the seven countries -- India, China, the UK, Brazil, Russia, the US and South Africa -- represented more than half of the global burden of cancer deaths every year. They noted that smoking, as well as three other preventable risk factors -- alcohol, obesity, and human papillomavirus (HPV) infections -- caused almost two million deaths combined. The study, carried out by researchers from the International Agency for Research on Cancer (IARC), Queen Mary University of London (QMUL) and Kings College London, UK, also analysed the years of life lost to cancer. The researchers concluded that the four preventable risk factors resulted in over 30 million years of life lost each year. Smoking tobacco had by far the biggest impact - leading to 20.8 million years of l

Akshay Kumar's Vimal U-turn is not in good taste, say brand experts

Given Kumar's passion for fitness, the endorsement was peculiar from the get-go, brand experts say

FRAI urges PM to order recall of proposed changes in law on cigarettes

Federation of Retailer Association of India, a representative body of micro, small and medium retailers urged PM to order recall of proposed amendments in law on cigarettes and other tobacco products

ITC continues to underperform but analysts say the stock is attractive

A tax overhang and ESG concerns over cigarettes have been among key factors hurting investor sentiment

ITC's appetite for staples grows as it moves away from tobacco

The company is betting on its non-cigarette FMCG portfolio to deliver growth and convince the markets that it is moving away from its tobacco dependence

Karnataka may bring in law banning tobacco products to curb drug menace: CM

Karnataka may bring anordinance to ban the sale of tobacco, gutkha and paan masala over fears of drugs being sold in paan masala pouches, CM B S Yediyurappa told Governor Vajubhai Vala on Friday.

Saddled with Rs 1,700 cr stocks, farmers demand restart of tobacco auctions

Urge govt to direct Tobacco Board to coordinate with FCV tobacco manufacturers, exporters and traders to facilitate reasonable prices at pre-covid level at these auctions

ITC shares fall 6% amid concerns on stake sale, possible tax hikes

Shares of Axis Bank also fell as much as 5.4 per cent, but recouped most of the losses to end just 0.2 per cent lower

Controversial Computer Baba faces a tough time with regime change in MP

The Bharatiya Janata Party government has started curtailing the facilities accorded to him

Ahead of GST meet, FICCI body calls for retaining rates on tobacco products

Currently, GST rate on these products are 28 per cent while cess varies between 61 to 204 per cent

Govt's e-cigarette ban faces first legal challenge in Kolkata court

The government banned the sale, import and manufacture of e-cigarettes this month and warned of an "epidemic" among young people

From components to working: All you need to know about e-cigarettes

Hundreds of varieties of vape juice (with and without nicotine) and e-cigarettes are there in the market, mostly imported from China

E-cigarettes and heated tobacco products do not help reduce cancer: WHO

The seventh "WHO report on the global tobacco epidemic" said blocking the industry's interference was critical to cutting the harm from tobacco use

Can PSU insurers invest in tobacco companies? Bombay HC to decide

The New India Assurance Company also has a 1.7% stake in Hyderabad-based cigarette maker VST

CII, FICCI oppose 85% pictorial warning on tobacco products

The industry chambers also said illicit cigarettes are threatening the 'livelihood of crores of farmers'