Reference price for imported liquor mulled

With an objective to clampdown on under-invoicing of alcoholic beverages, the government is mulling to introduce valuation rules which will make it mandatory for importers of alcoholic beverages to pay custom duty based on a price fixed by the customs authorities, which will be treated as reference price.

The suggestion for a minimum import price was put forward by CIABC, which pointed out that some of the imported brands had quoted one-third of the price to Indian excise authorities as compared to their prices at duty-free outlets.