The Hindu Business Line : Education cess on wine imports removed

Close on the heels of effecting a hike in the basic customs duty on wine imports, the Finance Ministry has scrapped the education cess applicable on imports of wine and certain fermented beverages such as cider, perry and mead.

Official sources said that the latest move came in the wake of the customs duty level on wines reaching the bound rate (150 per cent) that had been agreed with the World Trade Organisation.

The Government had recently scrapped the additional customs duty (levied in lieu of the State excise duty) on wine and spirits/liquor and simultaneously hiked the basic customs duty on wines from 100 per cent to 150 per cent.

As the bound rate on wines is 150 per cent and the basic customs duty is also now pegged at 150 per cent, the Government had to remove the education cess on wine imports.

A cess on imports is also a duty of customs, sources pointed out.

Already, there is no education cess on imported liquor/spirits. Imported spirits/liquor attract basic customs duty of 150 per cent.

More Stories on : Breweries | Taxation | Exports & Imports | Education

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