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ITC – steep excise hike

Excise duty on cigarettes has been increased by 11 per cent to 72 per cent in the budget, with ITC’s weighted average excise increasing by 21 per cent for FY15. This is the third consecutive year of steep increase in excise duty (FY14: 18 per cent, FY13: 22 per cent) but lower than what the Health Ministry had proposed last month (40 per cent increase).


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