ThinkScopeIf you're a smoker or a fan of pan masala, it might be time to tighten your budget. Starting February 1, the government is rolling out a fresh round of excise duty hikes that will see prices for these products increase significantly. This move comes after a seven-year hiatus on excise duty adjustments and aims to curb the widespread use of tobacco and related products.
The excise duties on cigarettes will vary based on the length of the cigarette. Smokers can expect to pay anywhere from Rs 2,050 to Rs 8,500 more per 1,000 sticks, depending on the size of their preferred smoke. The longer the cigarette, the higher the excise duty. This increase is being viewed as an attempt to dissuade consumers from purchasing longer, and often more harmful, cigarettes.
Pan masala enthusiasts aren't spared either. The excise duty on chewing tobacco will now be calculated based on a machine-based system, which could mean a significant price bump for users. This change not only targets those who chew tobacco but also seeks to regulate the production and sale of pan masala by using a more stringent and measurable tax system.
The government hopes that these new measures will help reduce tobacco consumption across the country. While the financial impact may be a burden for consumers, it's a clear signal from the government that they're serious about tackling public health concerns related to tobacco use. For those looking to quit or cut back, this price hike might just be the push they need.
