ITC has decided not to increase the prices of most of its brands though the Central government had announced an excise duty of 10 per cent on cigarettes in the Budget."We have been told that there won't be any increase in the prices of most of the brands of ITC. We will be selling the cigarettes at the existing 'end stick prices' only," Concorde Traders, a leading retailer in Chennai, said.
The retailer said ITC has given effect to budget proposals on two of its brands -- Gold Flakes Kings and Wills Navy cut -- by increasing the pack prices only.
"The retailers in Chennai will be selling ITC brands like Gold Flake King, Wills Filter, Gold Flake Filter, SSFT, Gold Flake Plain and Scissors at the existing old 'end stick prices' only," Concorde Traders said.
However, ITC has increased the prices of premium brand cigarettes like Benson & Hedges, 555 and India Kings. ITC currently offers 34 brands, according to the retailers.
The Budget had proposed to increase the specific rate on cigarettes by about 10 per cent and has imposed an equal surcharge on ad valorem duties on other tobacco products, including gutka, chewing tobacco, snuff and pan masala, to mop up additional funds for the National Rural Health Mission.
However, bidis were left out of this levy.
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