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Alcholic Beverages companies seek extension of excise year

Press Trust of India  |  New Delhi 

Indian alcoholic beverage companies have requested state governments to extend excise year by about a month from the date 21 days of lockdown ends.

As per the excise policy, the year comes to an end on March 31 and several statutory requirements ought to be met by companies to keep continuity of operations in the state.

"Extend the current excise year until April 30, 2020 or a month from the day lockdown is lifted, whichever is later, and allow existing licences for manufacturing / bottling units, distilleries, label approvals, brand registrations, pricing approvals and other permissions to continue until then," the Confederation of Indian Alcoholic Beverage Companies said (CIABC) said in letter to all state governments.

The Confederation said companies are unable to operate at all and retail trade has been closed for many days now in key metropolitan areas.

The industry body has requested to extend validity of existing export permits, transit permits, and other such permissions until April 30, "or a month from the day lock down is lifted whichever is later," and allow companies to renew them without any penalty.

The CIABC has appealed state governments to allow companies time until April end, or a month from the day lock down is lifted, whichever is later, to complete all other annual statutory fillings pertaining to the excise year 2019-20 as well as for forthcoming year 2020-21.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 25 2020. 20:02 IST