Higher tax for tobacco: Centre mulls new bill for Parliament's winter session; compensation cess stays for now
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The central government is planning to introduce legislation in the winter session of Parliament to tax tobacco and related products, potentially replacing the existing GST compensation cess. While the current cess will remain for at least three months to complete loan repayments to states, these items will face a higher 40% GST rate after that, eliminating the cess. What's Your Reaction?
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