Thursday, 16 March 2017

TAX ON TOBACCO >> Over Rs 19,000 cr collected as central tax on tobacco

The Indian Government has said that over Rs 19,000 crores have been collected as a Central tax on tobacco till January in the financial year 2016-17. Commenting on the issue, Union Health Minister J P Nadda told the media, "As reported by the Finance Ministry, the total amount of Central tax collected on tobacco during 2016-17 (till January) is Rs 19,293 crores. The figure for 2014-15 and 2015-16 stand at Rs 22,174 crores and Rs 19,977 crores, respectively." He said there was no earmarking of funds to the healthcare sector out of the funds collected from taxes on tobacco.

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