India's tobacco, beverages stocks fall on report of special tax

Varun Beverages

03/12/2024 04:16

** Indian government is likely to propose a new "special
rate" of 35% on tobacco products and aerated beverages, CNBC
TV18 reports, citing sources
    ** The new rate will "over and above the existing four-slab
structure of 5%, 12%, 18%, and 28%," CNBC reports
    ** Tobacco companies ITC  ITC.NS , VST Industries  VSTI.NS 
and Godfrey Phillips India  GDFR.NS  drop as much as 2%-3%
    ** ** Pepsi India bottler Varun Beverages  VARB.NS  down 2%

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))