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Tuesday, May 28, 2024
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Haryana’s New Excise Policy to Raise Liquor Prices, Introduce Tracking System

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The Haryana government has given the green light to a comprehensive excise policy for the fiscal year 2024-25, slated to take effect from June 12. This policy overhaul includes several key changes aimed at both revenue enhancement and regulatory improvements within the state’s liquor industry.

One of the central aspects of this new policy is the increase in excise duty on both country liquor and Indian Made Foreign Liquor (IMFL). This hike in excise duty is expected to result in a noticeable uptick in liquor prices across the state. The government estimates that these adjustments in excise duty, coupled with revisions in license fees for bars and bottling fees for beer, will contribute to a revenue boost of over ₹110 crore.

A significant feature of the policy is the revision of quotas. The maximum basic quota for country liquor has been raised, which is anticipated to bring in an additional ₹40 crore in revenue. Furthermore, there have been substantial increments in license fees for bars, particularly those located in hotels, as part of the government’s revenue augmentation strategy.

In a move towards greater transparency and control, the government has introduced a robust track and trace system specifically targeting imported foreign liquor. This system, which builds upon existing mechanisms for IMFL and country liquor, aims to curb illicit liquor trade and ensure that all liquor transactions are duly recorded and monitored.To facilitate fair and transparent allocation of retail vends, the excise department will initiate e-auctions starting from May 27. These auctions are expected to streamline the process of vend allotments, fostering a more competitive and efficient liquor market.

Overall, the new excise policy represents a concerted effort by the Haryana government to modernize and optimize revenue collection within the liquor sector while simultaneously enhancing regulatory oversight and consumer protection measures.

 

Aabkari Times Editorial Teamhttps://aabkaritimes.com
Aabkari Times is a monthly news magazine on Liquor, Excise and Alcohol allied industry; being published since 2009 by the expertise of retired excise dept. associates and alco-bev industry professionals as our editorial team. Our magazine contains different new alco-bev strategic and new brand launch articles as well as news on recent govt. policies, trends on alcohol industry and other important data relevant to the distilleries and industry at the mass.

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