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Decrease in prices of premium liquor in Karnataka

Following CM Siddaramaiah's budget announcement, Karnataka introduces a tax reform on premium liquor to decrease prices and stimulate the local alcohol sector, effective July 1. The public can raise objections to this new policy until it's finalized.

By Spiritz Desk
New Update
Decrease in prices of premium liquor in Karnataka

After  budgetary announcement  by Karnataka's Chief Minister Siddaramaiah, the Karnataka government has issued a draft notification on 20th June on rationalisation of tax slabs on premium liquor in the state. Rationalisation of tax slabs on premium liquors  will lead to decrease in prices of premium liquor in the state.

 

The state government aims to make liquor prices competitive with the neighbouring states and to bring buoyancy to the alcobev sector in Karnataka. The new prices will come into effect from 1st July. The excise department of Karnataka has invited objections, if any, for reduction in excise duties on 16 categories of high-end liquor, according to the notification.

Alcobev in Karnataka is priced and taxed under prescribed slabs. There are 18 slabs, with the cheapest alcohol falling in the first and the most expensive IML in the 18th. Premium liquor brands of IML are priced much higher in Karnataka than in other neighbouring states