Liquor Prices Cut: Premium liquor prices may fall by up to 20% in this state- Report

Karnataka Premium Liquor Prices: There is a good news for liquor lovers. Expensive brands of liquor have become cheaper in Karnataka. The Karnataka government has announced a cut in excise duty slabs.

This has made the prices of premium liquor cheaper across the state. The state has reduced the slabs to match the prices of premium liquor with neighboring states. This decision is expected to boost local sales. Also, the prices of expensive liquor brands will come down. Excise duty revenue will also increase for the government.

Liquor traders across the state are waiting for the announcement of the new rate card. Liquor has not yet been supplied under the new rate regime. The government, while notifying the changes in the Excise Act on August 23, had notified August 27 as the date for the new price to come into effect.

Prices expected to drop by 20%

Premium liquor prices in Karnataka are expected to come down by about 20 per cent. The policy change may take about a week to come into effect as the new rate card is yet to be announced. Though the new slabs for liquor came into effect from Tuesday, liquor traders said the new rate card has not been announced. Liquor has not yet been supplied under the new rate regime.

An official told The Hindu that the revision of liquor rates following slabs has been a long-pending demand of the State government. This is not only expected to reduce the cost of some popular brands but also increase the excise revenue for the government.

Also Read: School Holiday in September 2024: Schools will be closed for 8 to 12 days, 3 consecutive holidays this week

While notifying the changes in the Excise Act on August 23, the government had notified August 27 as the date for implementation of the new prices. Government sources said under the new system, liquor rates in Karnataka would be at par or very close to those in neighbouring states.

This adjustment will make premium liquor more accessible and will increase state revenue by promoting local consumption. It will also align with the government’s strategy to prevent revenue losses and curb purchases from neighbouring states.

Related Articles:-