Excise on tobacco products to be shared with states, says FM

The government has reintroduced excise duty on tobacco products, not a new cess, to prevent cigarettes from becoming more affordable. Finance Minister Nirmala Sitharaman clarified this move aims to maintain deterrent prices, aligning with past practices. The bill, passed by Lok Sabha, also mandates retail sale price declarations on pan masala packs from February to ensure GST compliance.