| Date: |
11-03-2011 |
| Subject: |
Liquor On A High As State Hikes Excise Duty by 20% |
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Potable alcohol, including the India Made Foreign Liquor (IMFL) and country liquor (CL), will be dearer from April 1. The state has effected a 20 per cent hike in excise duty and the license fee.
The new excise policy — approved by the cabinet on Thursday — will be valid for the next two fiscals, 2011-12 and 2012-13. The cabinet meeting was presided by the Chief Minister Mayawati.
Against the estimated revenue of Rs. 6,770 crore during 2010-11, the new policy is likely to fetch an additional Rs. 1,354 crore in 2011-12 and Rs. 1,626 crore in 2012-13.
The duty on IMFL for 2011-12 has been increased by five per cent or minimum Rs. 10 per bulk liter and 15 per cent or minimum Rs. 30 per bulk liter for 2012-13. This will fetch an additional revenue of Rs. 122 crore and Rs. 328 crore respectively.
For 2011-12, no hike is proposed in excise duty on beer. For 2012-13, duty has been hiked by Rs. 5 per bottle of Lager beer (650 ml) and Rs. 6 per bottle of strong beer. This hike will fetch additional Rs. 92 crore.
Source : indianexpress.com
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