The Haryana Cabinet has approved a new excise policy for the year 2024-25 after receiving approval from the Election Commission, as stated in an official announcement. This policy has been sanctioned for a duration of one year, starting on June 12.
“In the new policy commencing on June 12, there will be a slight uptick in the excise duty imposed on both Indian Made Foreign Liquor and country liquor,” it said.
However, no specifics regarding the magnitude of the excise duty hike were disclosed.
The cabinet convened in Chandigarh, presided over by Chief Minister Nayab Singh Saini.
Continue Exploring: Haryana takes bold step as first state to prohibit plastic bottles for locally produced liquor
The previous excise policy (2023-24) spanned a year from June 12, 2023.
The maximum basic quota for IMFL will be 700 lakh proof litres, and for country liquor, it will be 1,200 lakh proof litres for the year 2024-25.
The statement mentioned that the QR code-based track and trace system, initially introduced in 2023-24 for IMFL and country liquor, will now also encompass imported foreign liquor.
The department stated that it will establish minimum retail sale prices for imported liquor brands to streamline business operations.
Continue Exploring: Punjab cabinet greenlights new excise policy, targets revenue of over INR 10,000 Crore
With the approval of this policy, the excise department will initiate e-auctions for the allocation of retail vends starting from May 27th.
The maximum quantity of retail vends will remain unchanged in the new policy.
According to the statement, anyone wishing to participate in the e-auction must provide either an Aadhar Card or Parivar Pehchan Patra, Income Tax Returns for the past three assessment years, and demonstrate a minimum net worth of INR 60 lakh.
Due to the enforcement of the Model Code of Conduct during the ongoing Lok Sabha election, approval from the EC was obtained before finalizing the policy decision.
Continue Exploring: Maharashtra’s excise revenue soars to new high of INR 23k Cr as tax hike drives shift from country liquor to IMFL
