Karnataka govt to slash prices of premium liquor brands from July 1, expects surge in sales
Karnataka's government plans significant price cuts on premium liquor starting July 1, aiming to curb cross-border shopping. Reductions in excise duties on 16 categories of high-end spirits like Seme Premium are expected to align local prices with neighbouring states, potentially boosting sales and retaining revenue within Karnataka's economy.
FollowLiquor enthusiasts across Karnataka have reason to celebrate as the government announces substantial reductions in prices for premium liquor brands, effective July 1. This strategic move seeks to discourage residents from crossing borders to purchase alcohol in neighbouring states, where prices have historically been more competitive.
The state government's draft notification, scheduled to take effect next month, outlines a strategic reduction in excise duties on high-end liquor varieties. The adjustment comes in response to the disparity in prices between local markets and those in nearby states, which has led to a loss in excise revenue.
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To align with the pricing structures in neighbouring regions, the government has reviewed and revised the rates for 16 different categories of premium liquor. This move is expected to make brands such as Seme Premium and others more affordable locally, thereby encouraging consumers to buy within the state rather than seek cheaper options elsewhere.
The revised pricing strategy includes substantial cuts across various liquor categories. For instance, a 750 ml bottle of Grata, previously priced at Rs. 2000, will now cost between Rs. 1700 and Rs. 1800. Similarly, prices for higher-end spirits priced at Rs. 5000 and Rs. 7100 per bottle will see reductions of Rs. 3600-3700 and Rs. 5200 respectively.
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The excise department is preparing to publish updated price lists for all liquor brands, reflecting these adjustments based on production costs. This initiative aims to strike a balance between consumer affordability and maintaining state revenue streams.
By implementing these measures, the government anticipates a notable increase in alcohol sales within the state, thereby bolstering local economies and stemming revenue losses due to cross-border purchases.
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