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Alcobev sales may give States’ revenue a high too
March 15, 2021
During the pandemic, various S tates increased tax on the alcobev segment by imposing a Covid cess or rising the excise duty - The Hindu
During the pandemic, various S tates increased tax on the alcobev segment by imposing a Covid cess or rising the excise duty - The Hindu×
Sales of alcobev firms is looking up, thanks to Covid cess rollback, easing regulations
With the alcoholic beverage industry starting to recover, various State governments can expect higher excise duty collection to prop up their falling revenues.
Excise duty on alcohol is the third-largest source of States’ own tax revenues with an estimated contribution of between 12 per cent and 14 per cent. A RBI report (State Finances: A Study of Budgets) shows that during 2019-20, 29 States and the UTs of Delhi and Puducherry had budgeted a combined ₹1,75,501.42 crore from State excise on liquor. This was 16 per cent higher than the ₹