High cost for high spirits

Wednesday, 26 October 2011 00:16 - - {{hitsCtrl.values.hits}}

Ministry of Finance has decided to increase the excise taxes for beverages with alcohol.

Accordingly, the price of a liter of local liquor will be raised by Rs. 60 and the price of a liter of beer will be raised by Rs. 5.

The taxes on wine, liquors and locally produced foreign liquor brands have also been increased.

However, the government has exempted the export oriented liquor from the tax increase.

The government has also increased the tax on ethyl alcohol that is used in various industries. However, the hospitals, education institutes and other government institutes that use ethyl alcohol will not have to pay the increased tax. Excise Duty on wine, arrack, foreign liquor and malt liquor (beer) has been increased as with effect from yesterday