Bad News for Smokers: ITC Increases Cigarette Prices
A new bad news for smokers was announced yearly today. All cigarette lovers will have to add extra dollars from their pockets in order to buy a pack of cigarettes.
ITC has announced these days that it will increase prices of cigarettes by around 4% across brands. As about premium cigarette brands, the increase will be more significant- 8-9 %.
The excise duty on unmanufactured tobacco was already increased by 8.3 % from 4.2 % earlier, whilst that on pan masala was boosted to 9 % from 6 %. At the same time, excise duty on cigars was modified to 12.5 % or Rs 4,006 per thousand.
Excise duty on chewing tobacco, which includes filter khaini and jarda scented tobacco was also increased twofold to 12 % from 6 %. Excise on paper-rolled handmade bidis was enhanced to Rs 28 per thousand from Rs 21 per thousand.