India’s Alcoholic Beverage market is expected to touch $64 billion over the next five years, ensuring India’s position as the fifth-largest contributor to global market revenues in the near to medium term, said a report by International Spirits & Wines Association of India (ISWAI). It said that the segment, with an estimated market size of…
Few events encapsulate the rich culture, history, and heritage of the Indian subcontinent as colorfully as Diwali – the Hindu festival of lights that has transcended its religious and mythical origins to become a global phenomenon. Diwali’s Origins and Universal Significance Diwali’s origins lie in the universal gratitude of people for another year’s harvest, but…
Lucknow, October 31, 2023 – Uttar Pradesh is riding high on success, and its spirits are soaring. In the fiscal year 2023, the state recorded an astonishing excise revenue of Rs 42,250 crore, marking a remarkable threefold increase from the Rs 14,000 crore reported in 2017-18—the year that marked the ascent of the BJP and…
India is slowly becoming a country that is embracing the new trends in the alcohol and beverage industry. We have several whiskey, rum, and gin brands known for their quality and popularity. Regional alcohol varieties like toddy and handia also hold a special place in the hearts of the locals. Given India’s rich tradition of…
Following a request from representatives of the beer industry for a reduction in excise fees on beer, the Maharashtra state government has taken a significant step. On Thursday, the government announced the formation of a study group tasked with studying the beer industry’s taxation and revenue-related issues and to provide recommendations. The group will have…
In recent years, the excise duty on beer has increased by more than 30% in Maharashtra, making beer significantly more expensive compared to hard spirits in the state. Beer consumption in Maharashtra has remained steady, while the consumption of Indian-made foreign liquor (IMFL) has consistently risen over the past nine years. Industry experts suggest that…
DEHRADUN: Uttarakhand government’s new excise policy for 2023-24 has introduced a new provision of giving licence to keep mini-bars at home, but with certain key riders. District excise officer (Dehradun) Rajiv Chauhan said, “Anyone who has been filing Income Tax Return (ITR) for the past five years can apply for the licence at the district…
The revenue from Excise in Karnataka has marginally increased by ₹156 crore from ₹6,995.43 crore in the first quarter of 2022-23 to ₹7151.6 crore in the first quarter of 2023-24 (between July 20-September 30, 2022 and July 20-September 30, 2023). The increase is largely owing to hike in the excise duty on the maximum retail…
Goa has long been known for its picturesque beaches and vibrant culture. But for many travelers, it’s not just the sun and sand that draw them in, but the allure of affordable liquor. Goa’s unique tax structure has made it a haven for those seeking budget-friendly spirits, setting it apart from its neighboring states, especially…
THIRUVANANTHAPURAM: Prices of Indian-made foreign liquor will rise next week as Bevco decides to increase warehouse and shop margins. The price increase will be from October 3. Bevco will get an additional revenue of 15 crores per annum. The warehouse margin has been increased from 5 percent to 14 percent and shop margin from 3…