Tobacco
Indian scientists develop tobacco variety with 50% less nicotine, aiming for 70% reduction
This CSIR scientist said innovation was inspired by Prime Minister Narendra Modi's suggestion to create a less harmful tobacco variety. The CSIR laboratory responsible for this breakthrough aims to further refine the variety to achieve a 60-70% reduction in nicotine content. This development holds promise for mitigating the adverse health effects associated with tobacco consumption.
Cigarette demand likely to rise by 7-9 pc this fiscal: Crisil
The return of employees to offices and a stable tax regime are expected to increase cigarette demand by 7-9% this fiscal year, according to a report by Crisil Ratings. Cigarette volumes rebounded by 18% in the last fiscal year after two years of decreased demand due to the pandemic. Going forward, volume growth is expected to reach the long-term average of 5%. Manufacturers' profitability is expected to remain strong despite input cost pressures as they focus on premium cigarettes and increase prices in certain categories.
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Godfrey Phillips India shareholders reject proposal to sell unmanufactured tobacco to Philip Morris Products
As many as 57.94 per cent of the shareholders present at Godfrey Phillips India's annual general meeting on September 1 voted against the "material related party transaction between the company and Philip Morris Products SA".
CBIC restricts IGST refund for export of pan masala, tobacco, mentha oil from Oct 1
The Central Board of Indirect Taxes & Custom (CBIC) has imposed restriction on automated refund of Integrated Goods & Services Tax (IGST) for companies engaged in manufacturing pan masala, gutkha, chewing tobacco and mentha oil from October 1.
Tobacco: Farmers' body writes to PMO, finance ministry against WHO recommendation
In its representation to the PMO, finance ministry, commerce ministry and the ministry of health and family welfare, FAIFA has made a case that the recommendation of the World Health Organisation (WHO) is unscientific and there are no benefits of other crops replacing tobacco cultivation.
Study calls for more tax, stronger regulations against beedi industry
A study conducted by the School of Public Health at the All India Institute of Medical Sciences (AIIMS) in Jodhpur recommends increasing tax and regulations on the beedi industry to reduce consumption and associated mortalities. The study, conducted in collaboration with the International Union Against Tuberculosis and Lung Disease, found that the industry should lose its status as a "cottage industry." The report also suggests a ban on selling loose sticks to reduce black marketing and illegal circulation, with the eventual goal of 100% regulation to achieve increased revenue and improve public health.
ITC: The one Indian conglomerate that’s in no hurry to win
Recently, ITC has closed underperforming apparel businesses and sold menswear brand John Players to Reliance Retail. With a high cigarette market share, ITC makes almost 93% of its profits from the product. As smoking declines in India, ITC needs to focus more on food and developing a low-carbon supply chain to connect farmers with consumers.
Centre amends finance bill to change taxation on tobacco, pan masala
The centre on Friday proposed an amendment in the Schedule of the GST (Compensation to States) Act, 2017in the finance bill which capped the GST Compensation Cess on Pan Masala and Gutka at 51% of the retail sale price per unit and for Tobacco and manufactured tobacco substitutes, including tobacco products to 100% of retail sale price per unit.
India can drive positive change to control tobacco use: Jacek Olczak, Philip Morris International
"India is no stranger to harm reduction. It has led the world in embracing policies that reduce harm, has earned the reputation as a world leader in tobacco control. Nevertheless, there are still more than a hundred million people here who smoke," he said at the Economic Times Global Summit in Delhi on Saturday.
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ITC expects to sell more than Rs 2k-cr worth raw tobacco to BAT in FY24
ITC said its proposed transaction with BAT for the next fiscal year would account for around 3.64% of the annual consolidated sales for the ongoing FY23. “This is a routine business transaction and shareholder approval is being sought in line with regulatory requirements on related-party transactions,” an ITC spokesperson told ET.
Public health experts pitch for higher taxes on tobacco products to make India tobacco-free in 'Amrit Kaal'
Expressing concern that designated smoking zones at airports, hotel and restaurants were a major cause for second hand smoking, the public health expert batted for hundred per cent smoke free areas. Dr Rambha Pandey, Radiation Oncologist at AIIMS-Delhi, echoed similar views as she expressed her concern at the rising consumption of tobacco among people, particularly children in the age group of 9-15 years.
Duty hike on cigarette to have a nominal impact on prices, say experts
Following the announcement in the Budget 2023-24, excise duty on filter cigarettes of length more than 70 mm but not exceeding 75 mm will go up to Rs 630 per 1,000 sticks from Rs 545 per 1,000 sticks. Similarly, excise on filter cigarettes of length over 65 mm but not exceeding 70 mm will go up to Rs 510 per 1,000 sticks from Rs 440 earlier, while the same for filter cigarettes of length not exceeding 65 mm will be Rs 510 per per per 1,000 sticks, up from Rs 440.
Prices of cigarettes may go up post Sitharaman's proposal to hike duty by 16%
Analysts expect the companies will increase prices by around 2 to 3% which will not impact sales, since there was no major price increase in the last three years.
Budget 2023: Cigarettes to cost more as Budget proposes 16% hike in duty
Noting that the health care burden due to tobacco consumption in India is around 1.04 per cent of GDP, pushing many into poverty, Arvind Mohan, Professor and Head, Department of Economics, University of Lucknow, had said a substantial increase in tax on these lethal items would close the gap.
FAIFA urges govt to cut duties on cigarettes in Budget 2023
Federation of All India Farmer Associations (FAIFA), a non-profit organization representing the cause of farmers and farmworkers of commercial crops across the states of Andhra Pradesh, Telangana, Karnataka, and Gujarat also had made a pre-budget representation to the Union Finance Minister highlighting the growing menace of cigarette smuggling resulting in various issues ranging from the rise of crime to huge tax losses to the government.
