Karnataka Budget 2024: Government announces revised tax slab on liquor
Synopsis
The Karnataka government announces tax slab revisions for beer and IML, aiming to compete with neighbouring states. Excise services will be digitized, with fixed timelines for approvals. Excise revenue collection for 2023-24 reached Rs. 28,181 crore; a target of Rs. 38,525 crore is set for 2024-25.
The Karnataka government has announced a revision of tax slabs on beer and IML in the state. CM stated that to rationalise tax slabs and make them competitive with neighbouring states.
All the services rendered by the excise department will be digitised. Timelines will be fixed for various services, falling in which approval will be made automotive. In the years 2024-24, up to January 28,181 crore tax revenue has been collected from the Excise department.
CM said that a significant increase was seen in the revenue collection, stated the CM and said, In the year 2023-24, up to January, Rs 28,181 crore tax revenue has been collected from State Excise. The target revenue collection for 2024-25 to the Excise Department has been fixed at Rs. 38,525 crore.
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