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ITC felled by govt's capricious turn on GST
Investors certainly think so, with ITC Ltd's shares falling by 12% early on Tuesday, and down 15% from Friday's close. On television, the finance minister was heard saying that an anomaly in the calculations led to a lower tax burden post-GST. Coming back to ITC's forlorn investors, all analysts had said that GST had gifted ITC Ltd certainty in taxation. Rates were capped and increasing them would be difficult as the GST Council had that mandate now.
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