Excise Duty on Liquor
Maharashtra reduces Excise Duty on Imported Liquor Imported Liquor will get cheaper possibly with the reduction of excise duty by 50%, reading a duty take of 150% from 300%. The Government calls it to be an attempt to cut down illegal smuggling.
The reduction will reduce the cost of imported liquor by 35%-40% rendering a price waiver of Rs 1,500 to Rs 2,000. The reduction will make Maharashtra stand on equal footing with the rest of the states.
This attempt would stop selling of non-duty paid liquor in the market and deduct grey marketing. Revenue is supposed to increase to Rs 250 crore from Rs 100 crore in one year. Sales shall annually increase to 2.25 lakhs, in terms of bottle transactions.
Reduction is meant for imported whisky, rum, brandy, gin and vodka and not for wine and beer. The price drop will ensure a check on smuggling activities from Delhi to Maharashtra places through flights and trains. But the entire take depends on the activity of the liquor companies who are urged to follow the state guidelines from Monday, November 22.
The early financial years from 2017 to 2019 had the excise revenue generated at Rs 200 crore. But in the years of 2019 to 2021, the remuneration dipped to Rs 100 crore not owing to the pandemic, but due to rise in sales tax. Excise puts a leverage of a heavy burden of taxes. This eventually affects sales and revenue generation.
The International Spirits and Wine Association of India applauds the decision in favour of Maharashtra coming at the same footing with states like Goa after 150% reduction of excise duty.
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