Union Budget 2022: PHDCCI urges govt to reduce tax on cigarettes, abolish NCCD on tobacco products
Zee News
Finance Minister Nirmala Sitharaman is scheduled to present the Budget 2022-23 next month.
New Delhi: PHD Chamber of Commerce and Industry (PHDCCI) has urged the government to consider appropriate budgetary support for reinstatement of benefits under the FTP for Tobacco and Tobacco Products (covered under Chapter 24 of the Customs Tariff) by way of inclusion under RoDTEP in the upcoming Union Budget.
Finance Minister Nirmala Sitharaman is scheduled to present the Budget 2022-23 next month.
In its pre-Budget memorandum PHDCCI has suggested that it would be appropriate to consider a reduction of tax on cigarettes which would help the legal industry to recoup volumes from the illicit trade and provide higher revenues to the Government. Any increase in taxes will provide further impetus to the illicit trade and adversely impact revenue collection.
