Karnataka Chief Minister Siddaramaiah on Friday announced sweeping reforms in the state’s liquor taxation and regulatory framework, including the introduction of a new alcohol-based duty structure, deregulation of price fixation and technology-driven monitoring systems.
He set an ambitious revenue target of Rs 45,000 crore from the excise sector for 202627.
Presenting the state budget in the Assembly, the chief minister said the government would modernise the state’s decades-old excise framework and introduce reforms aimed at improving transparency, compliance and ease of doing business.
The chief minister said Karnataka would adopt a globally recognised taxation system that links excise duty to the alcohol content of beverages.
“An Alcohol-in-Beverage (AIB) based excise duty structure is globally recognised as the gold standard for alcohol taxation, as it directly targets the alcohol content which is the primary source of negative externalities,” he said.
This will be introduced​Karnataka Chief Minister Siddaramaiah on Friday announced sweeping reforms in the state’s liquor taxation and regulatory framework, including the introduction of a new alcohol-based duty structure, deregulation of price fixation and technology-driven monitoring systems.
He set an ambitious revenue target of Rs 45,000 crore from the excise sector for 202627.
Presenting the state budget in the Assembly, the chief minister said the government would modernise the state’s decades-old excise framework and introduce reforms aimed at improving transparency, compliance and ease of doing business.
The chief minister said Karnataka would adopt a globally recognised taxation system that links excise duty to the alcohol content of beverages.
“An Alcohol-in-Beverage (AIB) based excise duty structure is globally recognised as the gold standard for alcohol taxation, as it directly targets the alcohol content which is the primary source of negative externalities,” he said.
This will be introduced ​Latest News [ SOBAN NEWS: International and National ]
