Liquor price hike effective today

Nagpur: The state cabinet approved an increase in excise duty on liquor earlier this month, but raising a toast will get costly from Wednesday as the state govt has issued a notification spelling out the details of the duty hike.The notification covers Indian Made Foreign Liquor (IMFL), which means beer will continue to cost the same, said sources. IMFL includes drinks like whisky, rum, vodka, and so on. Any stock of liquor sold after Wednesday will attract the higher duty. However, the notification leaves scope for tipplers to continue drinking the old stock of liquor at cheaper rates if the manufacturers wish not to pass on the duty hike down the stream. The manufacturer can continue to sell at the old rates by paying the additional excise duty on the existing stock and continue selling at the old minimum retail price (MRP), said the notification.Otherwise, the liquor manufacturers will have to stamp the new MRPs on the existing labels. The manufacturers have to either print labels with new MRPs until August 31 or stamp new rates on the existing ones. All the old labels will be seized after August 31, says the notification.Nagpur: The state cabinet approved an increase in excise duty on liquor earlier this month, but raising a toast will get costly from Wednesday as the state govt has issued a notification spelling out the details of the duty hike.The notification covers Indian Made Foreign Liquor (IMFL), which means beer will continue to cost the same, said sources. IMFL includes drinks like whisky, rum, vodka, and so on. Any stock of liquor sold after Wednesday will attract the higher duty. However, the notification leaves scope for tipplers to continue drinking the old stock of liquor at cheaper rates if the manufacturers wish not to pass on the duty hike down the stream. The manufacturer can continue to sell at the old rates by paying the additional excise duty on the existing stock and continue selling at the old minimum retail price (MRP), said the notification.Otherwise, the liquor manufacturers will have to stamp the new MRPs on the existing labels. The manufacturers have to either print labels with new MRPs until August 31 or stamp new rates on the existing ones. All the old labels will be seized after August 31, says the notification.