Punjab cabinet approves new excise policy
- June 8, 2022
- No Comment
NEW EXCISE POLICY EXPECTED TO GENERATE AROUND 40% MORE REVENUE THAN LAST FISCAL
TWO ADDITIONAL BATTALIONS OF POLICE ALLOTTED TO EXCISE DEPARTMENT FOR EFFECTIVE CHECKING
Chandigarh, June 8:
The Punjab Cabinet led by Chief Minister Bhagwant Mann on Wednesday approved new Excise Policy for the state which is expected to generate revenue worth Rs 9647.85 crore which is 40 % more than the last fiscal.
A decision to this effect was taken by the Cabinet in its meeting held under the chairmanship of Chief Minister here at Punjab Civil Secretariat.
Disclosing this spokesperson of the Chief Minister’s Office said that the policy strives to keep a stringent check over smuggling of liquor from the neighboring state through extensive enforcement and by incorporating new technological measures. The excise policy aims to collect Rs. 9647.85 crore in the year 2022-23. This policy shall be applicable for a period for nine months i.e. 01-07- 2022 to 31-03-2023.
Meanwhile, the Cabinet also gave nod for allotting two special battalions of Police to the Excise department, in addition to already existing force, for keeping an effective vigil over the excise duty pilferage. This will also help in keeping a better check over the supply of illicit liquor into Punjab from the neighbouring states.
The new Excise Policy aims to break the nexus of mafia involved in liquor trade. Accordingly, the manufacturer, wholesaler and the retailer, shall be at an arm’s length distance with each other. They shall be completely isolated from each other with no common stakeholder between of the above entities.
New Excise policy also stipulates to tap the actual potential of liquor trade by allotting 177 groups through a free fair and transparent manner of e- tendering. The general size of the group shall be around 30 crore and there shall be 6378 vends in the state of Punjab. Excise Duty on all kind of liquor except PML shall be charged @of 1% of the wholesale price. On the same pattern assessed fee of IFL shall also be charged @ 1% of the wholesale price. The prices of liquor shall now be almost at par with the neighboring States.
To encourage capital investment and to increase the employment capability in the state, provision for new Distillery license and Brewery license have been made in the policy. Further, a new license for the production of malt spirit has been introduced in the State. This has been done to encourage crop diversification and to provide better remuneration the farmers.