Excise duty manufacturers to raise alcoholic beverage prices by 15
A significant development in the Indian beverage industry!
As you mentioned, the excise duty on manufacturers of alcoholic beverages is set to increase by 15%. This means that the prices of various types of liquor, beer, and other fermented beverages are likely to rise.
Here are some key points to note:
- Excise duty hike: The central government has increased the excise duty on manufacturers of alcoholic beverages by 15%. This move is expected to generate additional revenue for the government.
- Impact on prices: The price hike will vary depending on the type of beverage and the state where it is sold. However, on average, prices are expected to increase by 15-20%.
- Beer and liquor prices: Beer prices are likely to increase by ₹5-10 per bottle, while liquor prices could rise by ₹20-50 per bottle.
- Impact on consumers: The price hike may lead to a decrease in demand for these beverages, especially among price-sensitive consumers.
- Impact on manufacturers: The increased excise duty will add to the costs of manufacturers, which may lead to a reduction in their profit margins.
- State-wise variations: The price hike will vary across states, depending on the excise duty rates and taxes applicable in each state.
Some examples of how the price hike may affect popular beverages are:
- Beer: A 330ml bottle of beer may cost around ₹120-150, up from ₹100-120 earlier.
- Whiskey: A 750ml bottle of whiskey may cost around ₹1,500-2,000, up from ₹1,200-1,800 earlier.
- Vodka: A 750ml bottle of vodka may cost around ₹800-1,200, up from ₹600-1,000 earlier.
It's worth noting that the excise duty hike is a revenue-driven measure, and the government hopes to generate additional income from the increased taxes. However, the impact on consumers and manufacturers will be significant, and it remains to be seen how the industry will adapt to these changes.