Maharashtra Excise Policy Irks Liquor Firms

The Manohar Joshi government plans to fix the excise duty on liquor on an ad valorem basis at 200 per cent of the manufacturing cost as well as to introduce a cap on the maximum retail price (MRP) of liqour.

The new policy will be effective from January 1.

The MRP has been fixed at four times the manufacturing cost of Indian made foreign liquor (IMFL) and six times the manufacturing cost in case of Scotch.

If implemented, the policy will lead to a 40 per cent rise in prices in the regular segment