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ITC chokes on its own smoke! Set for steepest fall since 1992 – Economic Times

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Economic Times

ITC chokes on its own smoke! Set for steepest fall since 1992
Economic Times
With a fall of over 12 per cent, ITC was among top losers in the Nifty index. Shares of ITC plunged after the GST Council on Monday raised the cess on cigarettes to take away an estimated Rs 5,000 crore annual 'windfall' manufacturers could have reaped …
GST Council Hikes Compensation Cess On CigarettesNDTV
GST Council hikes cess on cigarette, says it will offset estimated Rs 5000 cr windfall for cos from lower ratesFirstpost
ITC tanks 15% as analysts downgrade after GST Council hikes cess on cigarettesMoneycontrol.com
Times of India –Livemint –Financial Express –Business Today
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