ITC: Punjab rolls back VAT on cigarettes from 55% to 22.5%

Jan 22, 2014, 09.47 PM IST

The state of Punjab has rolled back the value added tax on cigarettes which it had increased in April 2013.

Tags ITC, cigarette, Punjab, value added tax, video blog, Pragya Bhardwaj

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The state of Punjab has rolled back the value added tax on cigarettes which it had increased in April 2013.

Like this story, share it with millions of investors on M3

ITC: Punjab rolls back VAT on cigarettes from 55% to 22.5%

The state of Punjab has rolled back the value added tax on cigarettes which it had increased in April 2013.

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Interesting developments happening for some of the cigarette companies today, case in point, ITC is in focus today. The state of Punjab has rolled back the value added tax on cigarettes which it had increased in April 2013. From 55 percent it has been rolled back to about 22.5 percent.

ITC stock price

On January 22, 2014, ITC closed at Rs 327.40, down Rs 1.6, or 0.49 percent. The 52-week high of the share was Rs 380.00 and the 52-week low was Rs 281.15.

The company's trailing 12-month (TTM) EPS was at Rs 10.63 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 30.8. The latest book value of the company is Rs 28.10 per share. At current value, the price-to-book value of the company is 11.65.

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