'Seh lenge thoda': Internet blows up in memes after yet another hike in cigarette tax

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Smoking will become even more expensive as the government has increased custom duty on cigarettes to 16 percent. The announcement was made in the Union Budget presented by Finance Minister Nirmala Sitharaman on Wednesday. She announced a 16% increase in NCCD on cigarettes.


Shares of cigarette companies, including Godfrey Phillips India and ITC Ltd, plunged by up to 5 per cent on the BSE on Wednesday after finance minister Nirmala Sitharaman announced a hike in taxes on cigarettes in the Union Budget. The stock of Godfrey Phillips slumped as much as 4.92 percent to Rs 1,828.75 on the BSE, while Golden Tobacco declined 3.81 per cent to Rs 59.4.


According to experts, taxation on tobacco can be a very effective tool to generate revenue because the product being elastic in nature, high tax will have no adverse impact on revenue earnings of the government.



Exactly


After every budget




Tragic



The anger is justified


That's the spirit


Way to go


Pretty much


No other option


Some talent


True story



This