Tobacco
Godfrey Phillips to go ahead with exit from retail business under 24Seven
Cigarette maker Godfrey Phillips India Ltd is proceeding with plans to exit the retail business under the '24Seven' brand after a district court in Delhi set aside an interim injunction. The board approved the exit on April 12, 2024, citing stakeholder feedback and market conditions. The retail business division had a negative net worth as of March 31, 2024, with revenue of Rs 403 crore in FY23-24.
DPIIT working on proposal to further tighten FDI norms in tobacco sector
The Commerce and Industry Ministry plans to tighten foreign direct investment (FDI) norms in the tobacco sector to curb promotional activities and smuggling. Currently, FDI is banned in manufacturing but allowed in technology collaboration. The proposed changes aim to prohibit all promotional activities in line with India's commitment to the WHO's Framework Convention on Tobacco Control.
Cigarettes won't burn a bigger hole in smoker's pocket this year as Budget leaves prices unchanged
This year's Union Budget was presented on July 23 by Finance Minister Nirmala Sitharaman. No increase was made to the National Calamity Contingent Duty (NCCD) on cigarettes, which has been a key area for potential adjustment in tobacco taxation in the past.
Budget 2024: Stable taxation to improve cigarette volumes
BREAKING: Union Budget for 2024-25 keeps cigarette prices stable! Smokers rejoice as taxes remain unchanged. Analysts predict positive impact on tobacco industry. ITC reports decline in legal cigarette consumption in India. Will this lead to a shift in tobacco consumption habits?
Godfrey Phillips succession battle: Bina Modi refutes assault allegations by son Samir
Godfrey Phillips director Bina Modi denies assaulting her son Samir during a board meeting. The family dispute between the Modis continues with allegations and counterclaims. Legal proceedings are ongoing as both parties present their sides in court.
BCCI faces directive to stop showing tobacco ads during cricket matches
The Union Health Ministry is set to direct the BCCI to halt hoardings advertising smokeless tobacco at cricket venues, aiming to reduce youth exposure to tobacco products. Concerns have risen over surrogate advertisements featuring tobacco brands during matches, indirectly targeting young spectators. These ads, often endorsed by celebrities, skirt regulations by posing as ads for pan masala or mouth fresheners. The initiative aligns with existing laws prohibiting tobacco promotion in media and aims to curb tobacco-related health risks among India's youth, reflecting broader efforts to enforce stricter advertising regulations.
ITC to double raw tobacco exports to BAT by 2025-26
ITC Ltd plans to significantly increase exports of raw tobacco to British American Tobacco (BAT), targeting a value of up to Rs 2,350 crore by 2025-26. This move follows a decline in exports last fiscal. The proposal requires shareholder approval due to its scale and related-party nature under SEBI regulations.
Godfrey Phillips executive director Samir Modi alleges threat from mother, seeks police protection
Samir Modi seeks protection from Delhi Police amid estate distribution feud with mother, alleging threats from Bina Modi and Lalit Bhasin. He heads businesses like Colorbar Cosmetics and Modicare. Legal battle in the Supreme Court over trust deed.
GSTN rolls out form for tobacco manufacturers to report inputs, outputs to tax authorities
The GST Network (GSTN) has introduced a new form, GST SRM-II, for manufacturers of pan masala and tobacco products to report inputs and outputs, aiming to curb tax evasion. This form, implemented shortly after the rollout of GST SRM-I for registering machines, requires detailed monthly reporting. The Central Board of Indirect Taxes and Customs (CBIC) had announced these changes in January to enhance GST compliance for such manufacturers, with penalties for non-compliance.
Ban on tobacco consumption in Jammu & Kashmir's Katra town
The Jammu administration has banned the sale, possession, and consumption of cigarettes and tobacco products in Katra, home to the Mata Vaishno Devi shrine, to maintain its sanctity. Reasi District Magistrate Vishesh Mahajan announced the initiative on World No-Tobacco Day, extending existing bans on meat and liquor in the area.
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Feud in Godfrey Phillips: Samir Modi accuses mother Bina of staging assault on him
A Godfrey Phillips spokesperson rejected the accusation. "These allegations are entirely false and atrocious," the person said. "The alleged episode occurred outside the board room when the audit committee meeting was in progress at about 12 noon. This has been captured on in-house CCTV cameras, which can be provided to the relevant investigating authorities."
Over 40 pc ads in Cricket World Cup 2023 promoted smokeless tobacco brands: Study
According to the study conducted by a group of experts from the Indian Council of Medical Research (ICMR) and Vital Strategies, of the total 41.3 per cent surrogate advertisements of smokeless tobacco (SLT) brands, 39.9 per cent were telecast during India's matches and 37.8 per cent during matches featuring one or both teams from South Asia (Afghanistan, Bangladesh, Pakistan and Sri Lanka).
GSTN rolls out special procedure for tobacco manufacturers to register machines with tax authorities
The GST Network (GSTN) has introduced an online facility for manufacturers of pan masala, gutkha, and similar tobacco products to register their machines with tax authorities. The Central Board of Indirect Taxes and Customs (CBIC) announced the new registration and monthly return filing procedure to improve GST compliance. The online facility allows manufacturers to submit machine-related information through Form GST SRM-I, and Form GST SRM-II (for return filing) will be available soon.
Surge in tobacco prices benefits Andhra Pradesh growers
Local auction prices have surged to nearly all-time highs, reaching Rs 280 to Rs 290 per kg and are expected to exceed Rs 300 per kg in the coming weeks, as per the TOI report. This represents a substantial increase of about 30% from farmers' initial expectations. The sudden rise in prices can be attributed to the influx of local and small players offering competitive bids at auctions.
Spending on pan, tobacco up, says survey
The recent survey reveals a rise in consumption of paan, tobacco, and intoxicants in rural and urban areas. Expenditure on these items has grown, while spending on education has reduced.
Karnataka Assembly passes bill prohibiting hookah bars, use of tobacco products in public places
The bill titled the Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) (Karnataka Amendment) Bill, 2024, amends the central act of 2003 in its application to the state of Karnataka.
