Varun Beverages shares slip over 5% as GST on aerated beverages may be hiked to 35%

Varun Beverages share price: Shares of Varun Beverages fell by 5.2% as the Group of Ministers proposed raising the GST rate on aerated drinks to 35%. This hike in taxes affects Varun Beverages significantly since most of its revenue comes from India’s aerated beverages segment. The final decision will be taken by the GST Council on December 21.