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GST 'track, trace' method may cover cigarettes, pan masala

Times of India LogoTimes of India11h ago

GST 'track, trace' method may cover cigarettes, pan masala - Times of India

Quick Summary:

The GST Council has approved a "track and trace" system to combat tax evasion on specific goods, starting with cigarettes and potentially pan masala.

This system uses unique identification markings to monitor products throughout the supply chain, addressing significant revenue losses from smuggling and illicit trade, estimated at Rs 21,000 crore annually for cigarettes alone.

WHO is seen to be a driver of the plan under the Convention on Tobacco Control and Protocol to Eliminate Illicit Trade in Tobacco Products.


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Article Details

Author / Journalist: Sidhartha

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-23 @ 02:28:00 (11 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 814 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 24585432

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About Times of India

Times of India Logo

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 13 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #28

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  • URL: https://beamstart.com/news/gst-track-trace-method-may-17348954357589

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