According to a report by The Hindu Business Line on April 11, the Indian government has extended the deadline for the implementation of special registration and monthly reporting procedures for manufacturers of betel nut, chewing tobacco, and tobacco products until May 15th.
In January, the Central Board of Indirect Taxes and Customs (CBIC) announced new registration and monthly reporting procedures set to be implemented starting on April 1, 2024. The regulations require manufacturers of betel nuts, chewing tobacco, and tobacco products who fail to register their packaging processes with the Goods and Services Tax (GST) authorities by April 1 to pay fines of up to 100,000 rupees (1199 USD), with the penalty terms yet to be announced. However, a recent CBIC notification extended the implementation date of this special program by 45 days, until May 15th.
The new regulations require tobacco product manufacturers to electronically fill out Form GST SRM-I within 30 days of the effective date of May 15, 2024, providing detailed information on the packaging machines used for filling and packaging. The special declaration form (GST SRM-II) must also be submitted by the 10th of next month.
The Government of Malaysia (GoM) stated that tax evasion on tobacco products is a common practice internationally, and this regulation plays a role in enhancing compliance by strengthening enforcement and administrative mechanisms to curb tax evasion.
Notice
1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.
2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.
3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.
Copyright
This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com
AI Assistance Disclaimer
This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.
This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.
