Tamil Nadu govt to hike excise duty cap on Indian Made Foreign Liquor

Aug 11 2014, 20:22 IST
Comments 0
Tamil Nadu Government proposed to enhance excise duty on Indian Made Foreign Liquor in aneffort to mop up revenue. Tamil Nadu Government proposed to enhance excise duty on Indian Made Foreign Liquor in aneffort to mop up revenue.
SummaryTamil Nadu Government proposed to enhance excise duty on Indian Made Foreign Liquor in aneffort to mop up revenue.

Tamil Nadu Government today proposed to enhance excise duty on Indian Made Foreign Liquor in aneffort to mop up revenue.

Minister for Electricity, Prohibition and Excise, Natham RViswanathan, tabled a bill in the state Assembly today in this regard, seeking to amend a sub-section of the Tamil Nadu Prohibition Act, 1937.

It may be called the Tamil Nadu Prohibition (Amendment)Act, 2014, it said.

"With a view to augment the revenue of the state, it has been decided to enhance the maximum rate of excise duty leviable on Indian-Made foreign spirits from Rs 125 to Rs 250 per proof litre in the case of ordinary brands, Rs 300 per proof litre in the case of medium brands, and Rs 500 per proof litre in the case of premium brands," the statement of objects and reasons of the Bill stated.

Each case of Indian-made foreign spirits containing ninebulk litres or less shall be considered as containing 6.75 proof litres and excise duty shall be levied accordingly, the Bill explained.

The state government earned a revenue of over Rs 21,600crore through sale of liquor by state-owned TASMAC outletsduring the last fiscal.

Ads by Google

More from Economy

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...