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Wednesday, October 5, 2022

New excise policy to ensure ‘one person one vend’: Govt

Only domiciles having immovable property eligible for bid

JAMMU: Additional Chief Secretary, Finance, Atal Dulloo on Tuesday reiterated that the new excise policy would ensure that only single vend is secured by a bidder whose eligibility has been capped to the domiciles of Jammu and Kashmir only.

Promotion

While announcing the ‘Excise Policy 2022-23’ here at Excise Taxation Complex, Dulloo said that the policy would bring greater social consciousness and awareness about harmful effects of liquor consumption and drug abuse. He further said that it would also put an effective check on the menace of bootlegging and smuggling of all narcotic drugs in J&K from neighbouring states and UTs.

It was informed that besides making quality liquor available to consumers, this policy would encourage transition from high to low alcoholic content beverages to safeguard the health of consumers.

Regarding changes to ensure that no evasion of rules occurs and the vends go under auction in a transparent manner, it was apprised that the e-auction portal would be governed by J&K bank as a 3rd party nodal agency.

The policy has added features of encouraging local production by exempting export duty on all kinds of liquor for the policy year 2022-23. It would also fulfill the need of providing quality drink to consumers in unserved/underserved areas as some new vends have been proposed in the policy.

The department has made certain amendments in the previous policy by increasing Earnest Money Deposit (EMD) from Rs 5 lakh to Rs 7 lakh and Minimum Guaranteed Revenue (MGR) by 10 per cent.

Moreover, the bidder should be having good character without being convicted for any non-bailable offense. It has also been added that the bidder should have immovable property equivalent to 100% of bid amount in J&K and should not be defaulter of taxes department under different acts governing J&K.

The policy has also framed timelines under which different activities of bidding would be carried out and a bidder has to deposit the bid amount in a period of 10 working days. The successful bidder would also be given the license after receiving clearance from the concerned District Magistrate in a period of 15 days only.

The above news was originally posted on kashmirreader.com

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