SME Times is powered by   
Search News
Just in:   • GDP data: Economy needs more support  • Goa to reopen tourism sector: CM  • Sensex jumps 1,100 pts, Nifty at above 9,900  • India's sovereign rating downgraded by Moody's  • Cabinet approves upward revision of MSME definition 
Last updated: 07 May, 2020  

Karnataka Map THMB Liquor to cost more in Karnataka with 17% tax hike

Karnataka map
   Top Stories
» Cabinet approves upward revision of MSME definition
» PSBs sanctioned Rs 3,200 cr loans to MSMEs in a single day: Sitharaman
» Manufacturing output at historic low in May
» Exporters hail exclusion of export turnover, enhancement of turnover limit of MSME
» 'Economic revival may take 6-9 months'
SME Times News Bureau | 07 May, 2020
With 17 per cent increase in taxes, including 6 per cent additional excise duty (AED), select liquors would cost more in Karnataka from Thursday, an official said on Wednesday.

"The state Finance Department has increased tax on select liquors by 17 per cent, including 11 per cent excise duty and 6 per cent AED passed in the state budget for fiscal 2020-21 in March to mobilise more revenue," Deputy Commissioner, Excise, J. Giri told IANS here.

As liquor shops reopened on Monday after 40 days of extended lockdown and sales shot up due to huge demand, official sources said the state government does not anticipate fall in consumption, as the hike was modest compared to similar tax hikes in other states.

As the hike applicable only on whisky, brandy, gin and rum, they will be costly by Rs 5 for a quarter (180 ml) from Thursday when shops open for business.

With only 6 per cent AED, beer, wine, feni and toddy, their cost will go marginally.

Demand for liquor remained high for the third consecutive day, as sales increased to Rs 231.6 crore on Wednesday, as customers bought 39 lakh litres of IML and 7 lakh litres of beer against sales of Rs 197 crore on Tuesday and Rs 45 crore on Monday.
Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 02 Jun, 2020
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» FM reviews macro-economy in FSDC meet(1)
» Appoint distributors, expand your business(1)
» MSME stimulus(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter