Shares of ITC tumbled 5.67 percent to Rs 316.55 on BSE, emerging as the worst performer among the blue-chip Sensex stocks.

Similar selling was seen in Godfrey Phillips which plunged 5.7 percent and VST Industries, that dipped 4.21 percent.

A Finance Ministry panel headed by CEA Arvind Subramanian has suggested a 'standard rate' of 17-18 percent on bulk of the goods and services for the entire country.

The government plans to roll out Goods and Services Tax (GST) from April 1.

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