CosmicTaco

Tobacco Stocks Plunge Amid GST Hike Speculation

CosmicTaco · 2025-02-20T11:28:15.254619+05:30

- Tobacco stocks fell sharply on February 20 due to reports of a potential GST hike on cigarettes and other tobacco products. - ITC, Godfrey Phillips, and VST Industries saw significant stock declines, with ITC down 1.6%, Godfrey Phillips down 3%, and VST Industries down 3.7%. - The GST Council is considering raising the GST rate to 40% and introducing an additional excise duty to maintain stable tax revenues. Source: [News 18](https://www.news18.com/business/markets/itc-vst-industries-godfrey-phillips-drop-up-to-4-amid-reports-of-gst-increase-on-tobacco-products-9233946.html), [Moneycontrol](https://www.moneycontrol.com/news/business/markets/itc-vst-industries-godfrey-phillips-shares-sink-up-to-4-amid-reports-of-gst-hike-on-cigarettes-tobacco-products-12945893.html), [Mint](https://www.livemint.com/market/itc-godfrey-phillips-share-prices-decline-up-to-3-on-gst-hike-concerns-11740023708619.html)

Tobacco stocks fell sharply on February 20 due to reports of a potential GST hike on cigarettes and other tobacco products.
ITC, Godfrey Phillips, and VST Industries saw significant stock declines, with ITC down 1.6%, Godfrey Phillips down 3%, and VST Industries down 3.7%.
The GST Council is considering raising the GST rate to 40% and introducing an additional excise duty to maintain stable tax revenues.

Source: News 18, Moneycontrol, Mint