DOUBLE TAX HIKE HITS MUMBAI SPIRITS INDUSTRY HARD
April 1st, 2011
BY JEN SWANSON
Increased excise duty and sales taxes have inflated prices of Indian-made spirits by 40-56% in the key market of Mumbai and its suburbs, distillers warn. "The new duty caused retail prices in [Mumbai's state of] Maharashtra to increase two-and-a-half times," said S G Khedekar, secretary of the Maharashtra Distillers Association, who said state excise duty jumped 25% on April 1. The state also increased carbonated soft drinks sales taxes from 12.5% to 20%, commonly used as mixers. It has also restructured VAT generally, which Khedekar ...
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