West Bengal to implement new price structure for liquor from Sunday

By: |
October 31, 2020 5:03 PM

The West Bengal government has revised the price structure of liquor brands to be sold through the retail route in the state which will come into effect from Sunday, sources said.

State excise duty on alcohol accounts for around 10-15% of its own tax revenue for majority of states, according to RBI report on ‘State Finances: A Study of Budgets of 2019-20’.The government has made 22 new slabs for wine and beer across all categories after rationalising the price structure, the sources said.

The West Bengal government has revised the price structure of liquor brands to be sold through the retail route in the state which will come into effect from Sunday, sources said. The government has made 22 new slabs for wine and beer across all categories after rationalising the price structure, the sources said. The state government, in an apparent bid to shore up excise revenues had imposed a 30 per cent tax on liquor in second week of April when lockdown was in force.

But that move had resulted in a steep decline in wine and beer sales in the state to the tune of 40 per cent as compared to the previous year during this time, director-general of Confederation of Indian Alcoholic Beverage
Companies (CIABC) Vinod Giri said. Giri said representatives of the association have met the state Finance secretary and Excise commissioner and urged them to revisit the price structure.

“The government has been very receptive and indicated that it would visit the price structure in view of the ongoing
festive season”, he said. A leading wine retailer of the city said the government has made 22 new slabs for wine and beer across all categories after rationalizing the price structure after 30 per cent sales tax imposition. He said most of the prices of the various brands have gone up which is detrimental to the liquor industry in the state.

“Owing to this, people are being forced to switch over to country spirits and everyone had been scaling down the value ladder due to the price rise”, he added. Those retailers having old price tags will be able to sell as previous prices till stocks last.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1NHPC to commission 2,000 MW hydropower project on Subansiri by March 2022
2PNB to hold roadshow for proposed Rs 7,000 crore QIP next week
3Religare case: High Court stays trial court direction to REL ex-CMD to surrender in two days