Liquor to get costlier as government hikes taxes. Details here

Liquor to get costlier: Here is bad news for drunker Alcohol is all set to cost more for consumers in Meghalaya. Liquor to get costlier as government hikes taxes. Details here. Meghalaya cabinet, on Wednesday, decided to hike taxes on Indian-made foreign liquor (IMFL), resulting in rise in alcohol prices.

Government hikes taxes Indian-made foreign liquor has been decided to be hiked by 1-9 per cent. This was informed by Meghalaya chief minister Conrad Sangma on Wednesday. Meghalaya chief minister Conrad Sangma said that the decision to hike taxes on IMFL was taken to ensure higher revenues for the state.

“Cabinet has approved the recategorization of category of brands for Indian-made foreign liquor,” said Meghalaya chief minister Conrad Sangma. He added that “Due to change of rates in other neighbouring states and in order to ensure more revenue for the state, we have declassified different brands and increased the rates on few of them.”

“Through this decision, the state will earn an additional (Rs) 25+ crore revenue,” the Meghalaya chief minister further informed. The Telangana government has increased the prices of liquor by 20-25 per cent to increase the revenue.

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The prices of all brands of liquor were hiked and this is expected to help the government generate additional revenue of Rs 6,000 crore to Rs 7,000 crore annually. The state had earned Rs 30,000 crore from the sale of liquor in 2021-22 with a tax income of Rs 12,000 crore. The authorities have increased the price of 1,000 ml of liquor by Rs 120.