spot_imgspot_imgspot_img
34 C
Lucknow
Friday, June 2, 2023
spot_imgspot_imgspot_imgspot_img

ISWAI urges Karnataka government to consider tax rationalisation on premium AlcoBev products

Karnataka is one of the largest AlcoBev-consuming states in India, however, the overall excise revenue generation is not in line with the consumption and states which have lower consumption are generating comparatively higher revenues, ISWAI claimed in a statement.She said another pain point is the “obsolete slab structuring” which was last expanded six years ago and needs a revision.

 

The International Spirits & Wines Association of India (ISWAI), the apex body of the premium AlcoBev sector, on Friday urged the Karnataka government to consider rationalisation of additional excise duty on premium products. The current taxation structure in the state has resulted in India-Made Foreign Liquor (IMFL) consumption being skewed towards the cheap segment due to the significant MRP differences between the cheap and the premium AlcoBev products where “cheaper brands are far cheaper, and the premium brands are far costlier than in other states,” it claimed.

Karnataka is one of the largest AlcoBev-consuming states in India, however, the overall excise revenue generation is not in line with the consumption and states which have lower consumption are generating comparatively higher revenues, ISWAI claimed in a statement.

“Despite favourable conditions (in the state), premium alcohol products have seen a consistent decline in consumption in the last 4-5 years. This is primarily because Karnataka has the highest tax rates,” ISWAI CEO Nita Kapoor said.

She said another pain point is the “obsolete slab structuring” which was last expanded six years ago and needs a revision

The above news was originally posted on economictimes.indiatimes.com

close
Related
India a top priority as 40% of Bacardi’s global growth is expected to come from emerging markets: Sameeksha Uniyal of Bacardi

Sign up to receive awesome content in your inbox, every week

Oh hi there 👋 It’s nice to meet you.

We don’t spam! Read our privacy policy for more info.

Related Articles

Stay Connected

22,907FansLike
3,792FollowersFollow
20,800SubscribersSubscribe
- LATEST ISSUE -spot_img

Latest Articles