New Excise Policy: Preparations are underway to reduce the VAT on liquor in Jharkhand by 70 percent. After the implementation of the new excise policy, liquor will become cheaper in the state.
Liquor will become cheaper when the new excise policy is implemented in Jharkhand. The government is going to reduce the value added tax (VAT) on liquor. Currently, 75 percent VAT is levied on liquor in the state. There is a preparation to reduce it to five percent. Due to the reduction in the VAT rate, liquor will become cheaper in the state. Excise and Prohibition Minister Yogendra Prasad said that the VAT on liquor in Jharkhand’s neighboring states West Bengal, Chhattisgarh is very low. In such a situation, people buy liquor from these states and bring it to Jharkhand. This causes economic loss to the state.
The new excise policy has been sent to the Finance Department and Law Department
After the implementation of the proposed new excise policy in Jharkhand, VAT on liquor will be reduced. The draft of the new excise policy has been sent to the Revenue Board, Finance Department and Law Department after the consent of the departmental minister. The Finance Department has sought information from the Excise Department on some points of the proposed policy. The Excise Policy will be sent for Cabinet approval after getting approval from the concerned departments.
Excise Policy may be implemented from June 1
The proposed Excise Policy in Jharkhand is likely to be implemented from June 1. In such a situation, after the reduction in VAT, liquor may become cheaper in the state from June. Under the proposed new excise policy in the state, the allocation of retail liquor shops will be done through e-lottery. For this, software has been developed by NIC. It will be tested at the departmental level. A committee has been formed at the headquarters and regional excise office level for software testing. The work of software testing has been started by the headquarters and regional excise office.
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