Madhya Pradesh government announces reduction on import duty on beer and wine

Mhya Presh Home Minister Narottam Mishra on Thursday, May 26, stated that a group of ministers (GoM) in state government deliberating on excise matters has given consent to reduce  import duty on beer and wine in state. It is learned that decision was reached on Tuesday during a meeting of ministerial group heed by Mishra. 

Narottam Mishra said in a statement that GoM has decided that a proposal will be prepared and sent to cabinet after agreeing to reduce import duty on beer.

Ministerial group agrees to reduce import duty on beer & wine

"Various issues related to excise policy for 2022-23 were discussed during meeting. GoM has agreed on reducing  import duty on beer from Rs 30 to Rs 20 per bulk litre", Mishra said in a statement.

According to agreement decided upon on Tuesday, GoM has directed to prepare a proposal to reduce import duty on wine from Rs 10 to Rs 5 per proof litre, Mhya Presh Home Minister said.

meeting h in attendance Mhya Presh Excise Minister Jagdish Devda, Forest Minister Vijay Shah, and or senior officials of excise department. GoM will again hold a meeting on Thursday to discuss various prevailing issues, statement re.

Need for reduction in tariffs on alcoholic bevers in India

Earlier in 2021, a joint report of Indian Council for Research on International Ecomic Relations (ICRIER) and law firm PLR Chambers has suggested that a reduction in tariffs on alcoholic bevers is needed to facilitate import and option of clear and predictable excise policies that encour businesses to expand.

According to data compiled in report, India’s total share in global exports of alcoholic bevers was only 0.27% in 2019 and share in global imports was 0.75%. It should be ted that high tariff rates are a major reason for low share in global tre. 

(With PTI input)

(Im: PTI)