Karnataka govt slashes slabs on premium liquors; Alcohol rates to drop from today
By Vinaykumar Patil | First Published Aug 27, 2024, 10:28 AM ISTThe Karnataka government has reduced tariffs on premium liquors to counteract revenue losses from higher prices compared to neighbouring states. The new prices, effective from today, aim to boost local purchases and address financial shortfalls.
The Karnataka government has announced a slash on slabs for premium liquors, starting today. This significant reduction aims to make high-end brands more affordable and counteract the revenue losses the state has faced due to higher prices compared to neighbouring states.
Previously, the state witnessed a substantial increase in the cost of premium liquors, including brandy, whisky, gin, and rum. This led to a substantial revenue loss as consumers from border areas chose to buy their alcohol from other states where prices were lower. To address this issue, the government has decided to revise the prices to encourage local purchases and mitigate financial losses.
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Although the reduction was initially set to be implemented on July 1, delays in the revision process meant that the new prices are only coming into effect now.
The updated tariff structure for premium liquors is as follows:
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- 451-500 Rate Slab: Rs 294
- 501-550 Rate Slab: Additional Duty of Rs 386
- 551-650 Rate Slab: Duty of Rs 523
- 651-750 Rate Slab: Additional Duty of Rs 620
- 751-900 Rate Slab: Rs 770
- 901-1050 Rate Slab: Rs 870
- 1051-1300 Rate Slab: Rs 970
- 1301-1800 Rate Slab: Duty of Rs 1200
- 1801-2500 Rate Slab: Duty of Rs 1400
- 2501-5000 Rate Slab: Duty of Rs 1600
- 5001-8000 Rate Slab: Duty of Rs 2000
- 8001-12,500 Rate Slab: Duty of Rs 2400
- 12,501-15,000 Rate Slab: Duty of Rs 2600
- 15,001-20,000 Rate Slab: Duty of Rs 2800
- Above 20,000 Rate Slab: Additional Excise Duty of Rs 3000
This adjustment is expected to make premium liquor more accessible and provide a boost to the state’s revenue by encouraging local consumption. The move aligns with the government’s strategy to curb revenue losses and prevent the outflow of funds to neighbouring states.
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