Liquor in the national capital is set to become costlier from tomorrow.
The rates of liquor is likely to increase by eight to 12% as the revised excise duty regime and increased retailers margin component on liqour, notified by the Delhi government, would come into effect from tomorrow. Delhi government has decided to increase the retailer's profit margin in order to promote fair play and make the liquor trade look more profitable.
According to the revised list, the retailer's profit margin component on Beer, Cidrem Alcopop has been hiked from the existing 8% to 12% of wholesale price. The retailer's profit margin on Indian Made Foreign Liquor (IMFL) has been increased to 20% from the existing 15-18% of the wholesale price. The retailer's profit margin on country liquor (Delhi Medium Liquor) has been increased from 3 to 6%. "All this will come into effect from tomorrow," according to an official order issued by the Office of the Commissioner of Excise, Entertainment and Luxury Tax.
Delhi government has already notified the revised excise duty regime, making liquor costlier by 8%-12%. The increased rates would come into effect from tomorrow. The rates of beer have been increased by Rs 5 and Rs 20 per bottle and prices of IMFL have gone up by Rs 25 and Rs 40 per bottle.
With the increase in rates, the department aims to collect additional Rs 250 crore as it was unable to meet its revenue target of Rs 3,200 crore in last financial year and earned a revenue of Rs 3,151 crore.
In this financial year, the government aims to collect Rs 3,600 crore from Excise.