New Delhi: Prices of some premium whisky and gin brands in Delhi may fall by 10% to 15% after excise department assesses the impact of India-UK trade agreement on liquor prices, according to some officials of the department.
Effective July 15, customs duty on alcoholic beverages imported from UK was reduced from 150% to 75% under India-UK Comprehensive Economic and Trade Agreement (CETA). However, the 50% slash does not mean an equally sharp fall in the price of a bottle in Delhi as the retail price of imported liquor also includes state excise duty, taxes, margins and other costs. The actual benefit to consumers will, therefore, depend on individual brands and their revised prices, the official said, adding that the revised prices could kick in this month.
A senior excise official said Delhi govt is studying provisions of the pact and how the lower customs duty on qualifying British whisky and gin should be reflected in liquor prices in the capital.
A similar exercise is already underway in neighbouring Uttar Pradesh , where prices of several UK-origin liquor brands are set to fall from Oct 10. The reduction for some premium labels is expected to be between 5% and 15%. You Can Also Check: Gold Rate in Delhi | Silver Rate in Delhi | Bank Holidays in Delhi | Public Holidays in Delhi | Delhi AQI | Weather in Delhi | Petrol Price in Delhi | Diesel Price in Delhi | CNG Price in Delhi | LPG Price in Delhi Stay updated with the latest Delhi news.
Govt is examining an increase in excise duty as part of changes to Delhi’s excise policy, officials said. As Delhi excise commissioner Ravi Jha was recently transferred to Arunachal Pradesh, the department is likely to wait for his replacement to take charge before this proposal is taken forward, the officials said. At the same time, another proposal being considered in Delhi could push liquor prices in the opposite direction. If approved, a higher state levy could push up liquor prices and, for some imported brands, offset part of the benefit arising from the lower customs duty. However, a decision on the proposed excise-duty increase may take some more time. The change at the top of the department could mean the two developments affecting liquor prices may not happen at the same time. Some qualifying UK-origin brands could first get the benefit of the customs-duty cut before any increase in excise levy kicks in later. Download the TOI App.