Govt caps maximum GST cess rate on pan masala, tobacco; links rate to retail sale price
The Hindu
The government has capped the maximum rate of GST compensation cess that would be levied on pan masala, cigarettes, and other forms of tobacco and linked the highest rate to their retail sale price
The government has capped the maximum rate of GST compensation cess that would be levied on pan masala, cigarettes, and other forms of tobacco and linked the highest rate to their retail sale price.
The capping of the cess rate was brought in as part of the amendments to the Finance Bill, 2023, which was passed by the Lok Sabha last Friday.
As per the amendment, the maximum GST compensation cess rate for pan masala will be 51% of the retail sale price per unit. In the current regime, the cess is charged at 135% ad valorem.
The rate for tobacco has been fixed at ₹4,170 per thousand sticks plus 290% ad valorem or 100% of the retail sale price per unit.
So far, the highest rate was ₹4,170 per thousand sticks plus 290% ad valorem.
The cess is levied over and above the highest Goods and Services Tax (GST) rate of 28%.
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