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ITC Rallies 7% As Clarity Emerges On GST Proposals. Should You Buy?
ITC gained more than 7% to day's high of Rs. 288 on Friday GST Council approved a proposal to cap cess on demerit goods on Thursday VST Industries, Godfrey Phillips, Golden Tobacco also rose around 5%
17 Mar 2017, 11:40 AM IST 
Tobacco cess will be capped at a mixture of Rs 4,170 per 1,000 sticks or ad valorem of 290%.
Cigarette makers surged on Friday with ITC gaining more than 7 per cent to an intraday high of Rs 288, a day after the Goods and Services Tax or GST Council approved a proposal to cap cess on demerit goods such as tobacco and cigarettes at 290 per cent or Rs 4,170 per 1,000 cigarette sticks. Other cigarette manufacturers VST Industries, Godfrey Phillips and Golden Tobacco also rose with gains of around 5 per cent. ITC was the top gai...
