Manipur revises exise duty & VAT to boost revenue generation
IMPHAL: The Manipur government has revised the exise duty and VAT in a bid to boost the state's revenue generation.
The revision of the exise duty and VAT was done in a meeting of the Manipur cabinet, chaired by chief minister N Biren Singh.
This revision of exise duty and VAT is expected to generate a revenue of around Rs 600 crore annually for Manipur.
The cabinet revised the excise duty and VAT (Value-added Tax) under which the excise duty slab on 12 bottles will be around Rs 600 to Rs 6000 according to the prices of the Indian Made Foreign Liquor (IMFL).
The VAT levied on the public will be increased to 35 percent from 20 percent but on military and other exempted categories, the levy will be increased from 12 percent to 20 percent.
30 percent of the revenue collected from sales of beverages plus 30 percent of VAT revenue will be used in public health and welfare measures.
It may be mentioned here that the Manipur government recently had lifted the ban on liquor sale and consumption in the state.
Furthermore, the Manipur cabinet also gave its nod for establishing a Manipur State Beverages Corporation Limited (MSBCL).
Sources close to the chief minister on Saturday said that the MSBC with the state finance minister as the Ex-Officio Chairman will look after the manufacture, production, possession, purchase, sale, consumption, import-export, and transportation of beverages at some selected areas.
The MSBCL, initially, will look after the retail sale of beverages, and an open advertisement will be made to select bonded warehouses.
It will also handle standardization and licensing for the production and sale of local liquor or Distilled Indigenous Country (DIC) Liquor.
Sale and consumption of beverages within a 100-meter radius of educational institutions, hospitals, and places of worship is banned.
Sale of beverages will not be allowed within 500 meters of National Highways.
However, this will not be applied in areas under Municipality.
