ITC Surges on Report Tobacco Included in GST

ITC gained 1.8 per cent on Thursday on media reports that tobacco has been added in GST ambit - media reports.

Inclusion in GST's realm will most likely keep tax rates lower for the tobacco-based products, analysts said.

The cabinet on Wednesday cleared bill for nationwide sales tax. The amendment will be introduced in the ongoing session of parliament concluding next week.

Other Cigarette makers also gained. Godfrey Phillips India was up 1.1 per cent and VST Industries rose 0.32 per cent

($1 = Rs 63.5150)

Copyright: Thomson Reuters 2014