Kerala govt hikes liquor rates further
A bottle of liquor under Rs 1,000 will cost Rs 10 more than the budgetary hike of Rs 20.
A bottle of liquor under Rs 1,000 will cost Rs 10 more than the budgetary hike of Rs 20.
A bottle of liquor under Rs 1,000 will cost Rs 10 more than the budgetary hike of Rs 20.
The state government has decided to increase the cost of liquor further from the hike that was announced in the Kerala budget.
According to the revised rates, a bottle of liquor under Rs 1,000 will cost Rs 30 more. That is Rs 10 more than what was announced in the budget.
Similarly, a bottle of liquor that costs above Rs 1,000 will cost Rs 50 more hereafter. The budget had announced a hike of Rs 40.
The Kerala State Beverages Corporation (BEVCO) claims the additional hike was necessitated as liquor companies have imposed a turnover tax proportionate to the social security cess of the government.
BEVCO sources said it has to pay 5% of Rs 20 as turnover tax.
From the additional Rs 10, Rs 9.65 will go to the state government and the remaining 35 paise to the BEVCO.
The state expects additional revenue of Rs 400 crore from the hike.
The state cabinet had decided to increase the sales tax on Indian-made foreign liquor (IMFL) by 4% last December.