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Liquor sale: TN govt earns revenue of over Rs 26,000 crore

Press Trust of India  |  Chennai 

The government run Tamil Nadu State Marketing Corporation reported a turnover of Rs 31,757 crore on Indian Made Foreign Spirit and and government earned over Rs 26,000 crore revenue for 2017-18.

TASMAC, which has a monopoly over the wholesale and retail sale of alcoholic beverages in the State, procures IMFS, beer and wine from 11 IMFS manufacturing units, seven beer makers and one wine making unit in Tamil Nadu.

In its 35th Annual Report (2017-18), laid on the table of the Tamil Nadu Assembly on Monday, TASMAC, in its performance report, furnished information about its turnover and revenue.

During the year 2017-18, the sales turnover of IMFS and was Rs 31,757.71 crore.

The revenue to the government earned during 2017-18 by way of VAT (Sales Tax) and Annual Privilege Fee (Licence Renewal Fee) from TASMAC, excise duty and VAT (Sales Tax) from IMFS manufacturers and other taxes and fees was Rs 26,797.96 crore, it said.

The Corporation earned a profit of Rs 16.29 crore (before tax) during the year under report, it said.

In his recent budget address, O Panneerselvam had said that the State excise duty collection has been estimated at Rs 6,998 crore in 2018-19.

TASMAC is a government owned private limited company registered on May 23, 1983.

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

First Published: Mon, February 11 2019. 20:20 IST