Those planning to usher in the New Year in high spirits have to shell out more money to buy their favourite liquor brand as the state government has effected a 10 per cent hike in the liquor rates.
What’s more, the new rates came into effect from Tuesday night itself. For 180 ml liquor bottle, tipplers have to pay at least 10 per cent more depending upon the brand and medium of the liquor.
Having decided to hike the prices, the government has permitted the Telangana State Beverages Corporation Limited to enter into new rate of contract agreement with companies making Indian-made foreign liquor (IMFL), including wine and ready-to-drink products other than beer. The tender committee had recommended an increase in liquor prices and the government has accepted it.
Officials said that post price revision, there will be certain difference in the issue price and maximum retail price rounding off on stocks in inventories of government IMFL depots as on Dec 26 and stocks that will be dispatched by manufacturers after the revision. In order to avoid dual pricing, it is ordered that the difference between revised and pre-revised price will be collected from licensees to whom such stock is issued as a one-time special retail excise tax.
The Telangana VAT embedded in the special retail excise tax should be remitted to the appropriate head of account. The orders shall come into force with immediate effect and the corporation’s MD would take necessary action.
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