Liquor Price Rise in West Bengal: Alcohol May Get Upto 8 Percent Costlier From Mid-September, Here’s Why
If agreed, the excise directive said that the new prices will be applicable from September 15. However, unsold stock of foreign liquor and beer that has been manufactured before September 15 can be sold to licensed distributors at the old or pre-revised rates until the stock gets exhausted.
Mumbai, September 4: In what can be seen as a piece of bad news for tipplers in Kolkata and West Bengal, the prices of liquor and beer are all set to increase by 6 to 7 percent by mid-September. As per reports, the price hike on alcohol is due to a revision made by the producers on the prices of the liquor and beers.
According to a report in the Times of India, BEVCO, the state beverage corporation has called for re-tendering of prices from liquor and beer producers across the state after they complained about low margins considering the present prices. A source said, "It was clarified that there was no change in the rates of excise duty, additional excise duty in respect of foreign liquor and beer, including for BIO (bottled in origin) products. The stakeholders were briefed about the overall objective of the proposed changes, and all were directed to keep the prices as low as possible given the demand and supply and the impact on government revenue." Dry Day Today For Ganesh Chaturthi 2022 on August 31: Alcohol Will Not Be Available for Sale in Retail Shops, Bars and Liquor Stores For Ganeshotsav in India.
Reports also suggest that two price models have been discussed by the liquor and beer producers. While the first price model suggests producers give revised ex-distillery or ex-brewery prices, in the second price model the producers can give inventory management charges on their existing EBP or EDP. If agreed, the excise directive said that the new prices will be applicable from September 15. However, unsold stock of foreign liquor and beer that has been manufactured before September 15 can be sold to licensed distributors at the old or pre-revised rates until the stock gets exhausted.
Meanwhile, in November 2021, the prices of liquor and beers were slashed by 20 to 25 percent after a restructuring in the duty structure. But the state witnessed a decline in the consumption of IMFL since the prices were on an upward revision since April 2020. Interestingly, the prices of IMFL increased by 4 to 50 percent since the COVID-19 pandemic before it was slashed in November 2021. Reports also suggest that West Bengal as a state consumes 1.4 crore cases of hard IMFL which includes whiskey, rum, and vodka annually. Besides, the state is also a market of 1 crore cases of beer every year.
(The above story first appeared on LatestLY on Sep 04, 2022 09:11 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).