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Wednesday, May 27, 2020

Karnataka sold liquor worth Rs 45 crore, price rise soon

According to the State Excise Department, 3.9 lakh litres of beer and 8.5 lakh litres of Indian-made liquor (IML) were sold on Monday.

Written by Darshan Devaiah BP | Bengaluru | Updated: May 5, 2020 3:15:24 pm
Coronavirus outbreak, liquor shop, Maharashtra lockdown, Maharashtra news, Indian express news There will also be a rise in prices once new stock becomes available as the state government had government had increased the additional excise duty by 6 percent on all slabs of IML with effect from April 1, 2020. (Representational)

A day after Karnataka saw liquor sales to Rs. 45 crore, state excise minister H Nagesh Tuesday asked people to not make a beeline for the standalone stores as there is enough stock for another 10 days.

“We have enough liquor stock which will last for another 10 days. 26.5 lakh boxes of IML and 16.5 lakh boxes of beer are there in stock,” he told Indianexpress.com.

According to the State Excise Department, 3.9 lakh litres of beer and 8.5 lakh litres of Indian-made liquor (IML) were sold on Monday. Liquor stores were allowed to sell only three bottles of spirits and six bottles of 650 ML beer or 12 bottles of 330 ML beer per person.

Nagesh said, “This is a huge sale in one day, we had only expected a sale of around Rs. 25 crore. By this, I can say that we can compensate for 50 percent of losses which we had from the lockdown. We are expecting revenue of Rs. 23,000 crore through excise duty.”

There will also be a rise in prices once new stock becomes available as the state government had increased the additional excise duty by 6 percent on all slabs of IML with effect from April 1, 2020.

“The liquor prices will rise according to the state budget and an additional 6% excise duty will be levied when the fresh stocks arrive. Due to the lockdown, even Karnataka State Beverage Corporation Limited (KSBCL) depots were also closed. I have spoken to KSBCL, it will take a couple of days to increase the price,” Nagesh said.

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