Astounding News: Assam Set to Delight Residents with Lower Alcohol Prices Starting September 1, 2024!

The Assam Excise Department has announced a significant reduction in alcohol prices, effective from September 1, following an official notification on August 17. This move involves modifications to ad-valorem taxes on various alcoholic beverages, including Indian-made foreign liquor, beer, wine, brandy, rum, and ready-to-drink options.

The price cut comes after a previous increase in March, which aimed to enhance state revenue through alcohol taxes—a critical component of Assam’s financial framework. The newly revised tax structure introduces different ad-valorem levies and adjusted minimum price thresholds based on the type and cost of the alcohol.

Draught beer with up to 5% alcohol content will now be subject to an ad-valorem levy of 0.57 times its assessed value, resulting in a substantial Rs 34 reduction per 650ml bottle. Indian-made spirits priced below Rs 360 per bottle will experience an even steeper decrease of Rs 144 per 750ml bottle due to a revised levy set at 1.21 times the assessed value.

Luxury alcohol brands are also set to benefit from the new pricing structure. Spirits with an MRP between Rs 360 and Rs 500 will see a Rs 166 drop per 750ml bottle, while those priced between Rs 500 and Rs 700 will enjoy a Rs 214 reduction per 750ml bottle. These reductions follow new ad-valorem levies of 1.08 and 1.06 times the assessed value, respectively.

This revised tax framework and resulting price reductions underline Assam’s strategic approach to balancing revenue generation and consumer affordability in its alcohol market. The changes are expected to impact a wide range of consumers and could positively influence the local economy along with consumer purchasing behaviors.

Original Story https://www.indiatodayne.in/assam/story/assam-to-slash-alcohol-prices-from-september-1-2024-1075062-2024-08-20?utm_source=rssfeed
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