ITC shares fall 3% as GST on cigarettes may be hiked to 35%

ITC share price: Shares of companies like ITC and Godfrey Phillips fell as the GoM decided to increase GST on tobacco and aerated beverages to 35%. ITC shares fell by 3%, VST Industries by 2.3%, and Godfrey Phillips by 3.2%. The GoM’s report will be discussed by the GST Council on December 21 for a final decision.