Cigarette, pan masala get costlier as new excise duty, cess come into effect

The additional excise duty on tobacco products like cigarettes and a health cess on pan masala have come into effect on February 1. Under this, these 'sin goods' will now face the new levies over and above 40% GST. Nearly ₹1 lakh crore has reportedly been wiped out from ITC's market value since new levies were announced a month ago.