2 hrs ago
ITC Raises Prices of Classic Connect and Gold Flake
ITC has made two of its cigarette products more expensive.
Classic Connect now costs ₹428.
A 10-cigarette pack of Gold Flake Super Star now costs ₹89.
The company has raised these prices several times this year.
These increases followed new tobacco taxes introduced on February 1.
The new tax system includes a 40% GST rate and an additional excise duty.
ITC is raising prices to help manage the higher tax cost.
However, analysts say more expensive cigarettes could lead some people to buy fewer of them.
New-price packs are now beginning to appear in shops as older stock is replaced.
ITC raised Classic Connect’s price to ₹428 from an earlier ₹390.
Gold Flake Super Star’s 10-cigarette pack now costs ₹89, up from ₹79.
The latest revisions follow multiple price increases after February tax changes.
Cigarettes and tobacco products moved to a 40% GST rate from February 1, alongside additional excise duty.
Higher prices may help ITC offset taxes but could also pressure cigarette sales volumes.
- Who
- ITC, cigarette consumers, and the tobacco industry are involved.
- What
- ITC increased the prices of Classic Connect and Gold Flake Super Star cigarettes.
- Where
- The revised prices are appearing in the retail market; the article does not specify a particular location.
- When
- The latest revisions were reported after earlier increases in February and May; new-price stock is entering the market.
- Why
- The increases follow higher tobacco taxes, including a 40% GST rate and additional excise duty, which raised companies’ tax burden.
Key facts
- Classic Connect price
- ₹428, up from ₹390.
- Gold Flake Super Star price
- ₹89 for a 10-cigarette pack, up from ₹79.
- Gold Flake increase
- The latest ₹10 rise equals 12.66%, according to dealer checks.
- GST change
- Cigarettes and other tobacco products moved to a 40% GST rate from February 1.
- Earlier Classic Connect revisions
- Industry reports cited increases from ₹300 to ₹360, then to ₹390, before the latest ₹428 price.
- Earlier Gold Flake revisions
- The pack rose from ₹59 to ₹70 in February and to ₹79 in May.
- Market impact
- Higher prices may offset taxes but could put pressure on cigarette volumes.
Sources
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