Industry & Economy
-
Breweries
Karnataka restructures excise levies on IMFL
Boby Kurian
Bangalore
,
Feb. 11
THE Karnataka Government has restructured excise levies on low-end Indian-made foreign liquor (IMFL) rendering it cheaper by almost Rs 6 on 180 ml packs.
The price slab for IMFL will now start at Rs 26.50 for a nip instead of Rs 32 earlier. This is the biggest excise revision after last year's overhaul in the duty structure that saw retail prices tumble by almost 50 per cent. The latest move to usher in a new lower price slab may help the Karnataka State Beverages Corporation Ltd (KSBCL) to push its monthly IMFL sales to over a million cases, sources said.
KSBCL was floated in July last year in a bid to free IMFL trade in Karnataka from the clutches of grey market. The corporation, which was backed by rationalised excise levies, has made significant strides with monthly sales touching almost nine lakh cases and boosting the State's excise receipts by nearly Rs 300 crore in the first six months.
"Following the differentiated levies in the low-end segment, creating a lower price slab, KSBCL may realise its potential to push more than a lakh cases of IMFL monthly," the industry observers said.
More Stories on :
Breweries |
Excise and Customs |
Karnataka
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
