₹19,329 cr tax collected on tobacco products in FY22: Govt
Finance Minister Nirmala Sithraman, in her Budget 2023 speech, announced the excise duty hike on specified cigarettes by about 16%.
excise duty on cigarettes
February 2023
Budget 2023: ITC, Godfrey Phillips, other cigarette stocks slide as FM hikes tax by 16%
ITC dropped marginally by 0.4%, while Godfrey Phillips declined as much as 5%. NTC Industries also dropped 1.5%.
