AAP Govt In Punjab Approves New Excise Policy, Liquor Rates To Go Down
Liquor Rates To Go Down in Punjab
Chandigarh: Chief Minister Bhagwant Mann lead AAP government in Punjab has approved a new excise policy on June 8, 2022, under which, rates of Indian-made foreign liquor (IMFL) and beer will come down.
A decision on the new policy was taken by the Cabinet at its meeting presided over by the CM.
With the new policy coming into effect, the government is expecting to generate revenue worth Rs 9,647.85 crore, a 40 per cent rise over the last fiscal, and make liquor cheaper by making it on a par with the neighbouring states. The excise policy will be applicable for a period of nine months from July 1, 2022.
The plan is to allot 177 groups with the provision of 6,378 vends under the new policy. The excise duty on all kinds of liquor, except medium liquor, will be charged at the rate of one per cent of the wholesale price.
Similarly, the assessed fee for Indian-made foreign liquor shall also be charged at the rate of one per cent of the wholesale price. The prices of liquor shall now be almost on a par with neighbouring states, an official statement said.
However, liquor contractors have lodged a protest against the changes. Ratanjot Dua, a liquor contractor from Jalandhar, said by increasing the size of groups, the small liquor contractors would be wiped off from the trade as only big contractors would have the capital to invest in the groups.
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